Recently, many people have been asking: "Is this the last bull market in crypto?"

Honestly, my answer is — no. But that doesn't mean nothing has changed.

To be precise, this is the last "make money even while sleeping" bull market.

Not long ago, I was chatting with an old friend in the community. He seemed quite pessimistic, thinking that opportunities to make money would become increasingly scarce, and was considering gradually clearing out his positions. My view, on the other hand, is the opposite — crypto will always have bull markets; the way to make money has just completely changed.

Remember those years? You didn't need to see if a project had real skills; as long as it could tell a good story and quickly pump up the price, just hop on and you’d make a profit. This kind of model, built on emotion and liquidity, is bound to collapse sooner or later.

The next phase of the market will resemble the approach of the professional market. No longer hyping up empty projects, but focusing on real indicators: Are there genuine users? Can it sustain profits? How connected is it to real-world business?

MEME coins and妖币 will still exist, but they are no longer the market’s current dividend; at most, they are speculative tools. Looking at this round of MEME fever, no matter how much hype there is, we haven't seen another mythic project like PEPE.

It's not that everyone's luck has run out; the market is growing up.

Crypto is evolving from an emotional casino into an arena of skill competition. A new bull market will definitely come, but it only belongs to those willing to upgrade with the market. Those who survive and profit in the cycle are always the ones daring to take the first step.

Ask yourself, are you ready?