In a bear market, it's hard not to feel unbalanced when comparing the crypto space to the US stock market. Crypto is young, with innovation and high volatility, but it also comes with manipulation and complexity. We can't expect both the ultra-high returns of crypto and a beautifully smooth yield curve.

So, how do you make money in crypto? While trend-based rolling positions in major coins offer opportunities, they require extremely high levels of skill, position sizing, mindset, and timing. Besides Bitcoin, the prospects for other blue-chip coins are uncertain. The real opportunities still come from track-level growth driven by crypto innovation—like how BRC20 created a batch of wealth legends, and Solana’s mass asset issuance also counts as a track-level opportunity, though these chances have their ups and downs.

When Bitcoin adjusted in October, the privacy sector led by ZEC had a main upward trend. Although attitudes shift with price movements, the fact that it could rally against the market shows that there is capital paying attention. With positive macro expectations for 2026, whether this sector can become the next big thing—or even surpass it—is something to look forward to.

Speaking of privacy, we have to mention the privacy-protecting oracle layer, Swarm. Traditional oracles “deliver packages” but expose privacy, while Swarm is like a courier fully equipped for privacy: when delivering, no one knows the sender, recipient, or package contents. A group of bees verifies message authenticity by voting; you pay bees for their work, can hire bees for tasks, or lock tokens for mining.

I’m not sure if the privacy sector will rise, but in this bear market it's already sparked a fire, now being tested by the winter—maybe it will go out, or maybe it will spread. If macro conditions are loose in 2026, capital may focus on the privacy sector that performed well during the bear market. However, my position is very small and already locked in losses, so don’t blindly follow. Follow Musen to help you avoid traps and seize opportunities!