#数字资产市场动态 **What people lack most is actually confidence in the future**

When the market drops, some feel anxious; when the market drops, others look for buying opportunities. Why does the same price trend trigger completely opposite reactions? Ultimately, it’s a matter of perception and expectation differences.

Bitcoin went from 20,000 to 120,000 and then to 88,000. At each level, someone is shouting, “This is really the end this time.” At 20,000, they’re reluctant to buy, thinking it will go even lower. At 120,000, they still don’t dare to buy, feeling the price is too high. Now that it has retraced to 88,000, they hesitate again, wondering “Will it break the bottom again?”

This is a typical “present bias”—always judging whether to act today based on whether it can go up tomorrow.

**Look at it from a different time dimension, and the scene is completely different.**

If your focus is only on the 24-hour K-line, many opportunities will slip away in hesitation. But once you extend your vision to 5 or 10 years, your mindset changes entirely.

Some stocks I hold have lost as much as 70% at their worst. If you look at it on a daily chart, it’s a disaster. But because I believe in the long-term value of this asset, I endured that darkest period. And what happened? A slow rebound, eventually multiplying several times.

**The key is: do you truly believe this asset can exist long-term in the future?**

If your answer is yes, then daily fluctuations in the K-line are insignificant. Watching minute-by-minute charts only causes frustration and hampers judgment.

Take a low-market-cap coin as an example. It’s been nearly 4 months since I bought it, and I’ve been holding. During these months, the market has mostly been sideways, but at the same time, how many coins are quietly going to zero? Probably happening every day. In such an environment, do you think I should be scared off by daily price swings?

Obviously not. Because the goal has never been to make quick money with 20% or 50% gains. When a project’s market cap is only around 2 million USD, the potential for growth is already huge. The real opportunity isn’t in today’s K-line, but in the future’s growth space.

**So, what is missing? What’s missing is confidence.**

It’s the mental resilience to stay rational in the face of price fluctuations, and the firm belief in long-term value. The market is never short of opportunities; what’s missing are those who can see through short-term noise and grasp long-term trends.