In the cryptocurrency market, many ordinary investors have a common misconception. They believe that the value of a cryptocurrency needs a lot of promotion and collective buying behavior to rise. However, this view overlooks the essence of the market.

In fact, the cryptocurrency market is highly influenced by human factors. The true price control is not in the hands of the numerous retail investors, but rather with the financially strong players and whales. When everyone is optimistic and buying a certain coin, it may actually signal that the price is unlikely to rise.

Taking Ethereum (ETH) as an example, even as the second largest mainstream encryption currency by market capitalization, it experienced severe fluctuations at the beginning of the bull market. When the market was generally optimistic, ETH did not immediately rise. On the contrary, it underwent two deep pullbacks to around $1385, causing many investors to have doubts. It was only when most opinion leaders no longer had a positive outlook that ETH began to rebound significantly.

It is worth noting that when many opinion leaders (KOLs) enthusiastically recommend a certain cryptocurrency, it is often an opportunity for the main players to offload their holdings. Therefore, blindly following the suggestions of KOLs may lead to losses, which could not only cause others to suffer but also harm one's own interests.

In cryptocurrency investment, rational analysis and independent thinking are more important than following the emotions of the crowd. Investors should focus on market fundamentals, technological developments, and macroeconomic factors, rather than blindly following the opinions of others or market hype.

Overall, understanding the market operation mechanism, identifying the behavior of major players, and maintaining independent judgment are the keys to success in this complex and ever-changing encryption currency market.