A few days ago, the sharing mainly focused on asset selection. Let me talk about something more fundamental.

1) If you are earning beta money (market rebound), there is actually not much essential difference between the underlying assets. As long as there is a certain market value base (with a lower limit of 100 million), and the underlying assets have been tested over time, they will all rise when the market rebounds. The difference is not significant! Because the money earned is all beta money, it is all money earned when the industry is favorable and BTC breaks new highs!

Only a very few underlying assets have generated a certain alpha return beyond the beta money, with the recent case of pengu spx useless being a classic example.

I think during a rebound, the percentage is generally referred to as the money made from market beta; anything above 2x is considered to have alpha!

2) For the money earned from the market beta, the core has shifted from selecting targets to selecting the timing of purchase! (Because of beta, price increases and rebounds are universal, so the focus has become on who can buy at a lower price, which means earning more.)

3) In a nutshell, the timing of buying beta is more important than the choice of underlying asset. For alpha, the choice of underlying asset is the most crucial.

4) In the primary market, from tens of k to 1m, from 1m to 10m, all of it is money earned through alpha! If you choose correctly, it will soar straight up to the sky, taking off at 10x 🛫; if you choose incorrectly, you might lose 50% at least, or worse, you'll be treated to turtle jelly.

5) With limited funds but ample time, experienced small players engage in on-chain activities and the primary market, aiming to earn alpha returns. The characteristics of alpha returns include a 10x potential, which allows for a gamble on a "turnaround and life-changing" opportunity. On the other hand, larger funds are more suited for capturing beta returns, where a 50% heavy position also represents a significant amount!

6) One of the indicators for judging whether the overall market is good or stagnant is to see if the beta rebound can reach 2x? Or is it just a percentage...

From my observation, it's basically a percentage. In this case, if the pattern changes and BTC pulls back, most of the profits will be given back. Please take this free roller coaster ride...

Damn it! I've done it several times.

7) Of course, a smart approach is to look for assets that have both beta and alpha properties, with the main position capturing beta, and a portion of the position playing with the combination of beta + alpha!