Author: Haotian

Here are some of the assets I gradually bought during the bear market and the rationale behind them:

1) $BTC : The logic of buying the dip should be self-evident. According to the cycle theory, BTC will be the fastest rising asset in the early stage of the next bull market, and it is also the only asset with a decent holding experience during the bottoming period of a bear market. In addition, many people missed out on BTC, which led the way in the last cycle, and not many retail investors hold it.

Additionally, if you're looking for pure BTC Maxi, you could also consider buying MSTR. It's a leveraged asset that's highly correlated with BTC and has seen its price drop by half from its peak. If it then rebounds, it will be even more attractive.

2) $ETH : The logic behind holding ETH may surprise many people. I simply thought that ETH would be the last hope for the Crypto Native ecosystem, so I switched most of my other altcoin holdings to ETH, including some SOL.

It sounds a bit like upholding the cryptocurrency faith, but behind it lies more of an "optimistic" mindset fueled by narratives about the widespread adoption of stablecoins, the upgrading of tokenization infrastructure, the integration and adoption of infrastructures like RWAFi and DeFi, and the Agentic Economy. Especially since Bitcoin's potential from the last round hasn't been fully realized, it might be an even bigger star than Bitcoin when the next bubble inflates.

3) $SOL

Although some of the holdings were transferred to ETH, the SOL holdings are still substantial. The reason is that, as an ecosystem that carried the expectations of the previous MEME craze, AI Agent craze, DePIN, and consumer applications, the Solana chain proved the team's strength with a comeback.

Firecanter's client coverage, Alpenglow consensus upgrade, and ICM's internet capital narrative are all still underway. To say that SOL is a MEME chain is not so much that it just happens to have the strength to support the MEME craze. When the next wave of hot topics comes, SOL will still be the most resilient ecosystem with strength and economic vitality.

4) $HYPE : I've been quietly buying in early on, and everyone is optimistic about it. But there are two reasons why I have confidence in HYPE: 1. HYPE is the only new coin to emerge from the last bull market, perfectly standing on the opposite side of the bearish sentiment towards altcoins. If you have to say that playing in the altcoin market is like digging for gold in a cesspool, then HYPE must be shining brightly.

2. The HIP-3 protocol elevates the Hyperliquid narrative to the level of on-chain Binance or even on-chain CME. Tradexyz has generated a large amount of off-exchange incremental trading through crude oil, gold, and silver futures trading. The potential of HIP-4 in outcome options combined with the prediction market has not yet been fully realized. Therefore, HYPE still has great potential. If it weren't for the continuous large-scale unlocking and the lack of a complete cross-cycle structural shakeout, it would probably have already skyrocketed.

5) $TAO : There are not many complicated reasons for choosing TAO. It is simply because it is the leading project of AI + Crypto narrative and has proven its strength in Covenant distributed model training. Although there were later disagreements in the ecosystem and Covenant dumped its shares, I completed the purchase of TAO precisely during this wave of major correction.

Because no project that has stood the test of time will be brought to an end by a localized internal conflict, and because the narrative of Agentic Economy will definitely take off again, choosing TAO is just a way to secure a position in advance;

6) $ZEC : It's a bit of a pity I didn't get in early on when Naval was calling for it, but I gradually added to my position during this pullback. The reason is not complicated: I chose ZEC simply because the privacy sector cannot be disproven in Crypto, which is both necessary for AI productivity innovation and a necessity to comply with regulations.

In other words, even if the decentralized narrative is disproven, the strong demand for privacy solutions will always exist. This isn't obvious now, given the current AI boom, but once the AI bubble bursts and reaches a bottleneck, or when large-scale models compete for computing power and resources, entering the second half of the agent application economy's takeoff, privacy needs (ZK, FHE, quantum encryption, etc.) will undoubtedly become a necessary scenario for cryptocurrencies to enter the AI boom – this is perfectly logical.

A new wallet deposited 10 million USDC into HyperLiquid to open a short position in BrentOil.

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