#数字货币市场回调# Recently, a piece of news has sparked profound thoughts in me. Looking back at 2019, when Sun Yuchen spent 4.56 million dollars to have lunch with Buffett, the internet was filled with mocking voices. Many believed it was nothing more than a high-profile stunt, predicting that he would ultimately fail. At that time, Sogou CEO Wang Xiaochuan even publicly expressed his pessimism about Sun Yuchen's prospects, considering that talking to him was a way of losing face.

However, as time goes by, the situation has dramatically reversed today, a few years later. Sun Yuchen, who was once ridiculed as "the old boy of the crypto circle," has now become a pivotal figure in the industry, with his project scale continuously expanding and the magnitude of his assets astonishing. In contrast, those who once looked down on him are now facing severe challenges. Baichuan Intelligent has recently experienced frequent executive departures, indecisive strategies, and funding shortages, as if trapped in the maze of entrepreneurship.

This stark contrast reminds me of a saying often heard in the crypto space: Everyone can seem exceptionally clever during a bull market; only in a bear market can true strength be tested. Baichuan Intelligence's frequent shifts from finance to education and then to healthcare have led to excessive resource dispersion, a lack of clear goals for employees, and a loss of investor confidence, ultimately resulting in a state of confusion. On the other hand, despite ongoing controversies, Sun Yuchen has remained steadfast in the field of cryptocurrency technology and adhered to a global layout, never deviating from his core direction even in the face of external skepticism.

The cryptocurrency market shares similarities with the startup field; making mistakes is not unacceptable, but lacking direction can be fatal. Choosing the right direction is often more important than the effort invested. In the current market environment, Zhiyun AI has a valuation of over 40 billion, the Dark Side of the Moon has secured $300 million in financing, while Baichuan struggles to find investors after its Series A funding, which seems to corroborate Li Yanhong's prophecy that "99% of AI companies will disappear."

For us participants in the cryptocurrency market, we should neither mock Baichuan's situation nor overly glorify Sun Yuchen's success. Aren't we all placing a bet on the future? Instead of blindly investing all our resources, we should first clarify our direction: what do we want to do, why do we want to do it, and where are our goals. This is the real ability that can help us endure the market lows and embrace the next bull market.

$AWE

$ZEC

$SNX