#比特币市场周期与价格 Seeing that Bittensor is about to welcome its first Halving, I am thinking of a question worth reflecting on for all of us: whenever a "major event" occurs in the market, does it easily provoke a sense of fear of missing out (FOMO)?

The halving mechanism itself indeed represents a signal of the network maturing, with the daily supply of TAO decreasing from 7,200 coins to 3,600 coins, which will have structural impacts on the supply side. However, I want to remind you that halving ≠ price will definitely rise; these are two different things. The past halvings of Bitcoin tell us that market reactions are often priced in ahead of time, and real opportunities are often hidden in long-term fundamentals.

In recent years, I have come into contact with many investors. Some chase every hot event, resulting in frequent high selling and low buying, and ultimately their returns are worse than those who hold positions steadily. This does not mean to ignore such information, but rather to view it with the right mindset—consider it as a reference to understand the maturity of the project, rather than a trading signal.

If you hold relevant assets or have allocation plans, it's advisable to ask yourself three questions first: Is my position within a safe range? Do I have a thorough understanding of the long-term value of this project? Can I withstand price fluctuations? Only when all the answers are clear can it be a true investment decision, rather than a trade influenced by emotions.

In the long run, networks that continuously mature in fundamentals tend to have better prospects. However, the process of maturation is often long and tortuous, which is exactly when one's mindset is tested.