It is during the darkest hours that winners and losers are distinguished: the market always returns stronger after a collapse.

This article is written for investors who are feeling desperate amidst the crash. MoonrockCapital founder, with 9 years of industry experience, points out that although this moment is extremely painful, it is precisely the key to distinguishing winners from losers. The industry fundamentals remain strong, and he urges everyone to stay resilient and not fall before the golden era arrives.
(Previous context: Bitcoin once fell below MicroStrategy’s “76,000 USD cost basis,” Strategy’s stock price evaporated 60% in half a year, increasing financing pressure)
(Additional background: Gold and silver crash together! Silver plummeted 20% in one day, gold dropped 8%, is the bull market in precious metals coming to an end?)

The cryptocurrency market experienced another suffocating decline early this morning (1). Bitcoin (BTC) continued to fall over several hours, once dropping below the $76,000 mark, hitting the lowest level since April 2025, and briefly breaking through MicroStrategy’s (Strategy) cost basis.

Ethereum (ETH) was also not spared, dropping 10% in the past 24 hours to around $2,400. The total liquidation amount across the network surged to $2.5 billion, with over 420,000 investors liquidated. Amid this panic, MoonrockCapital founder Simon Dedic posted on X earlier, hoping to bring a bit of warmth and strength to those enduring the winter.

The darkest moment in the market: To every one of you still holding on

The market has gone through another crazy and painful day.

On my social media timeline, I see countless people who are on the verge of collapse, unable to continue. They are starting to become cynical, losing faith in this industry, and even choosing to give up, chasing after other seemingly shiny new things.

Having been in this industry for 9 years, I have experienced countless market crashes. I know you want to tell each other “this time is different,” but the truth is, it’s not.

Every crash feels like everything is over. You can’t imagine how the bullish emotions will return, or how prices will reverse. On paper, it feels like you’ve already lost everything, and only a step remains before liquidation and cashing out the last remnants.

However, every time we return stronger.

I understand how exhausted and terrible you feel right now, and I empathize deeply.

Anyone trying to pretend they are unscathed and emotionally unaffected in this market is lying to you. But for me, “giving up” has never been an option, and it shouldn’t be for you either.

A harsh reality is: it is during these times and under these circumstances that winners and losers are distinguished. Not at the peak of a bull market, when everyone thinks they are a genius, or the greatest investor in the world.

The fundamentals of our industry have never been stronger than they are now. Although we still face many problems and have many flaws to fix, there is no doubt that we will take root here. Over the next ten years, trillions of dollars will continue to flow into this market.

Despite the current extreme difficulty, keep pushing forward, don’t let this storm crush you.

The golden era is still ahead. One day, you will look back and not only smile at days like today but also feel proud of yourself for staying in the game during the hardest times.

That day may be much closer than you think, even though it seems so unbelievable right now.

Keep going, warrior.