I prefer to position the current stage as the end of a bear market rather than a bull run, or as I previously said, as' entering a bull market pattern '. A bull market that you can freely configure needs to meet at least the following conditions or expectations: 1. Abundant liquidity; 2. Significant technological innovation; 3. Significant policy benefits. There is greater uncertainty in both 1 and 3. The last time the Ministry of Finance repurchased treasury bond, 1 improved. The new encryption rule of the SEC is 3 favorable (the most important Clarity is still uncertain). 2 The above currency shares and AI are both worth looking forward to. So, we still need to be cautious of significant retracements. I strongly advise against chasing high prices as it is not easy to initiate a comprehensive bull market.