Looking back over the past decade in crypto assets, the window for making money has actually been quite clear.

From 2010 to 2017, those seven years were the most wild growth phase. Blockchain technology had just emerged, and the entire industry was still exploring, with opportunities everywhere. As long as you dared to participate, you could almost get a share.

From 2018 to 2022, although the market experienced ups and downs, this period saw the industry gradually mature and the rules of the game start to become clear. Competition appeared, but the cake was still large enough, making it relatively easy to profit.

Now, in 2023 heading into 2025, the situation has changed. This carnival is coming to an end. More and more people are entering, competition has become fierce, and internal competition has become the main theme. The original cake is the same size, but now it has to be divided among several times more people, so each person's share naturally shrinks. Coupled with the industry itself facing growth bottlenecks, innovation stagnation, and the market beginning to lose its attractiveness.

To put it simply, this is the fate of any industry—prosperity inevitably leads to decline. Just like real estate back then, glory does not last forever. When the bubble reaches its peak, it will burst sooner or later. This is not pessimism, but a rule.