Alliance DAO co-founder: The top of the 4-year encryption cycle is emerging, and the AI bubble in the U.S. stock market will dominate the rise and fall.

BlockBeats news, on November 14, Alliance DAO co-founder QwQiao recently posted on social media that despite macro factors such as the Fed's quantitative easing (QE), the rebuilding of the Treasury General Account (TGA), and interest rate cuts pointing towards a market rise, intuitively “everything is over.” QwQiao described encryption as a “self-fulfilling asset class,” emphasizing the inevitability of the four-year cycle prophecy, which puts the market at a frustrating crossroads. As a long-term optimist, he has felt uneasy about the crypto market since mid-September and observed that most smart traders and long-term investors have turned bearish. Turning to the U.S. stock market, QwQiao sees artificial intelligence (AI) as the “only factor” dominating the cycle, far exceeding liquidity indicators and technical signals. He warns that if the AI bubble bursts, the entire market will collapse; conversely, if AI-related stocks continue to rise, the bears will be completely wrong. He likens NVIDIA (NVDA) to Bitcoin in crypto, pointing out that when AI stocks (especially NVIDIA) rise, funds flow out of other assets like crypto, causing crypto to fall, and vice versa, creating a binary pattern of “AI stocks vs everything.” In niche areas, QwQiao is optimistic about the growth momentum of stablecoin startups, believing it far exceeds the speed of AI startups, mainly due to the scarcity of competition in the stablecoin market, while the AI vertical has become crowded with over 50 players. This year, his return on investment in U.S. stocks has significantly outperformed crypto, and he has avoided high-growth but inefficient AI stocks, instead favoring “quality companies at reasonable prices.”