#比特币价格走势 Seeing Pompliano's perspective, I actually agree with it. Year-end didn't bring the expected crazy surge; instead, it became a kind of "risk buffer"—compressing volatility to this level makes it genuinely difficult to smash out an 80% drawdown.

But what's the takeaway for copy-trading strategies? In the short term, this means we may need to reassess the performance of those "extreme volatility followers." Traders who make a living off explosive price swings are probably going to have a tough time ahead. Instead, those skilled at refined position-sizing and drawdown control in compressed volatility environments are the ones truly worth consistently copying.

What does 100% returns in two years and nearly 300% compound growth in three years tell us? The short-term disappointment of holders is just noise. My recent adjustments to copy-trading allocations reflect this thinking—I've reduced exposure to aggressive traders and allocated more capital to mid-risk traders with clear long-cycle thinking and disciplined stop-loss practices.

The medium-term bullish logic remains intact, but the rhythm has shifted. Steady gains beat gambling any day.