Yesterday during dinner, I told my friends that the essence of the knockoff season is liquidity. The knockoff season is most likely to occur only when there is a release of funds (low or zero interest rates), so the "knockoff season" that appears during high interest rates may be short-term. It's like living a daily life. In China, if you earn 5000 a month, you won't actively go shopping. Occasionally, it may be brought by friends, but when you earn 50000 a month, you may consider stimulating consumption. Shanzhai Season is like this: when there is not enough liquidity, your money needs to be used to pay off your mortgage (mainstream assets), and only when you have abundant funds will you find ways to spend or invest extra. This tweet is sponsored by @ ApeXProtocolCN | Dex With Apex