These past few days, a lot of groups have been talking about how there’s going to be another official document from within the firewall cracking down on virtual currencies. I just laughed—whenever this kind of thing comes out, it’s usually not far from the cycle top. Looking back carefully, before every bull market peak, the regulatory noise is always especially loud. Same thing happened in 2019 and 2021—news everywhere, and Bitcoin hit its top. On the flip side, when the bear market is at its worst, the media starts mocking, and experts come out calling it a scam—that’s actually the best signal to buy the dip. Because when no one believes in it and no one’s buying, the chips are clean. Now when I see these kinds of messages, I don’t panic anymore. I just treat them as a directional indicator. The louder the regulators shout about risks, the more I start preparing my positions. History has shown me time and time again: policy can’t scare off true believers, and instead, it clears the way for a real bottom.