The market is like a mirror, reflecting your level of understanding and emotional control.

I entered the crypto space at the end of 2018, just as the last bull market was ending. Honestly, I had a bit of luck — buying some random coins and waiting for the next bull run to make easy money. But what happened? I did make some profit, but losing it back was even uglier.

Over the years, I’ve seen too many people — including myself — use luck to make money, only to lose it through skill. This process taught me one thing: the real gap isn’t who bought the 100x coins, but whether your thinking framework has truly upgraded.

**Watching price fluctuations and analyzing market logic are two completely different things**

Most people's approach is very simple: watch the charts for ups and downs. When prices go up, they get excited, thinking they’re a genius; when prices fall, they panic, as if the end of the world has come. But price itself says nothing; it’s just the "vote" cast by market participants with their money.

The real questions are: who is buying? Why are they buying? Is it because of technological innovation, ecosystem expansion, or are they simply caught up in the FOMO hype?

I’ve seen many projects with solid technology but ignored by the market, with prices constantly falling; and I’ve also seen tokens with mediocre fundamentals, but because they fit the current hot narratives, their prices skyrocket. Narratives often lead fundamentals.

This isn’t to say fundamentals are useless, but in trading markets, understanding how capital and consensus flow is much more useful than obsessing over technical indicators. The shift from trying to grasp everything to focusing on cognitive differences determines the final outcome of your gains.