The recent discussions about 广场4 have been very popular, with many veteran traders following the trend and chasing the rise. As a result, many stop-loss orders have been triggered during this wave. To be honest, 4 is indeed a good coin—deep cultural accumulation and scarcity of single digits—but that doesn't mean it's the right time to enter now.

Raising from a 20 million market cap to 100 million is theoretically feasible, but reality often turns out to be a mess. A coin that has previously gone to zero will inevitably undergo repeated washouts to make a comeback to high levels. When new whales come in to eat up the chips, the inertia of the bears is reinforced time and again, and no one can be sure when the price will surge. This uncertainty is the biggest trap of chasing the rally.

My experience is that only during sharp drops in Bitcoin is it worth seriously considering. Laying low at unloved lows, using bottom prices to dilute risk, and waiting for a rebound to realize gains—this is completely opposite to the outcome of chasing highs.

Many people suffer losses here: buying at relatively high levels or halfway up the mountain, and once the price drops, they have to hold against the order. Holding against the order consumes not just funds, but also energy and mental resilience. Once the mindset collapses, when the price rises back close to the cost basis, you can't hold on—this is when most people cut their losses, and they get washed out instead. So rather than following the trend blindly, it's better to learn patience and low-position deployment.