Hello everyone, I am Bai Ge, thank you to every friend who follows me.

I entered the market in 2019 and have spent 6 years in this field, transforming from a tender novice into an experienced trader. I have faced liquidation, incurred losses, and stayed up late watching the market, experiencing several cycles of bull and bear market fluctuations. I gradually realized that the path of trading ultimately leads not to the myth of financial freedom, but to a thorough interrogation of one's character.

Money has a spirit; it acts like a mirror that reflects the parts of your inner self that you most want to hide—your greed, fear, luck, and arrogance. It can become a surge that tempts you, a drop that intimidates you, or a stagnation that wears you down. Most people are trapped in the maze of technical indicators, staring at the candlestick charts every day, switching strategies every few days, yet they never ask themselves: What do I truly believe? Where are my limits? In trading, in the end, it's not about who is smarter, but who understands themselves better, and who can control their own hands.

I have seen too many people, including my former self, treat the market as a casino, always wanting to bet against the trend and gamble with the dealer. It was only later that I understood: the ones who can truly survive are not the gamblers but the observers. You must learn to see the "momentum," not guess the "points." This "momentum" is the flow of capital, the cycle of periods, and the collective heartbeat of human nature. This insight is what I gained after stepping into this circle in 2019, experiencing ICOs, the PlusToken wallet, BellChain, NFTs, DeFi, Metaverse chain games, Farmer World, Source Beast, Luna's liquidation, and a series of losses.

History is the only script in this market that does not lie; flipping through the past, the flow of capital always follows a similar rhythm: when the floodgates open, it first fills the biggest pool, Bitcoin, then overflows to Ethereum, and finally floods into the fields of altcoins. Unfortunately, we did not see such a scene in this bull market.

Now the dominance of $BTC is weakening, which is a signal that funds are beginning to diffuse towards the middle. The global macro script is also being replayed over and over — debts piling up to a critical point, the tide of currency forced to turn, and every cycle of interest rate hikes and cuts hides the code for wealth redistribution. If you don’t understand history, all you see are price fluctuations; if you understand history, you see the cycles of human nature and institutions.

So, I no longer believe in any perfect technical indicators or AI strategies. What I revere is the cycle, the invisible hand of liquidity. My trading rules have become very simple, even somewhat rigid: every trade must have a stop loss, just like you must check the weather before going out; once the stop loss is set, it must not be moved, as that is my commitment to my own rationality; if the daily loss reaches 5%, I will immediately turn off the screen and leave the market for two days — this is not a punishment, but a protection for my easily excited heart.

Brothers, in a bull market, don’t think about selling at the highest point; timely converting some floating profits into tangible happiness in life is the best reward for yourself. I really admire @颜驰Bit , he is a great practitioner; some haters criticize him for showing off wealth when he shares about traveling and smoking cigars. I want to ask, didn’t we earn money to improve the lives of ourselves and our families? Why can’t we show off the results achieved by our own efforts? We need to learn to accept and appreciate, which will allow us to become better. In the same bear market, do not fear those plummeting numbers; that is the market giving you another chance to enter. The most important thing is to always keep yourself "alive," have cash in hand, and patience in your heart.

Now I share some thoughts daily at Binance Square. It's not just about teaching everyone how to make money, but also providing a perspective of an old veteran. The market has no gods, only clear-minded people and confused ones. My views will change with the market conditions because clinging to prejudices is dangerous; my analysis will vary in length because trends and fluctuations are two different things. I thank every friend who follows me; it is you who encourage me to keep sharing. I hope we can all find our rhythm amidst the ups and downs and gain our understanding. The cycle is the skeleton, and details are the flesh — the real temperature of the market hides in the microscopic cracks.

The train to 2025 is about to arrive; this year has seen liquidations, profits, frustrations, and ecstasies, sadness and emotions. Regardless, please pack your bags, bring love and hope, and prepare to transfer to the next station — 2026.

Let us look forward with great anticipation to the next journey across mountains and seas! At this year's end, I welcome everyone to share in the comments your gains from 2025 and your hopes for 2026, so we can bid farewell to the past and embrace the future!

Written in the year-end summary, join the group to see the homepage introduction, and encourage each other.