# Analysis Based on Cycles and Market Conditions

**The great opportunity for long-term positioning has arrived**

During bull markets and periods of narrative explosion, all projects rely on storytelling to attract investors and harvest retail investors. They all hold balloons—some inflated by words, some by technology, some by data.

After experiencing market cycles, it becomes clear:
- Who has genuine technology and who is committed to development
- Whose data is real and who is falsifying
- Which projects have consensus, which are mainstream, which are knockoffs, and which are bubbles with inflated valuations

Projects with some consensus may fall several times, while those driven by storytelling can crash dozens of times. Projects with real technology, authentic product data, and stable returns can survive bear markets by reducing expenses and persisting. Those lacking technology and falsifying data—operating at a loss—have already shut down and gone bankrupt.

This is not a good sign for short-term speculators because making money is becoming more difficult. But for long-term investors, it is a rare opportunity.

In the past, all projects in the market were dressed up—looking good, and misjudgments were common. But now, everyone is bare-faced. Whether it's a camel or a horse, they've all been taken out for a walk. Everyone has a clear understanding now.

So, previously, it was like finding beauty among a group of women dressed up; now, it’s like finding beauty among a group of women without makeup. **Value is easier to recognize.**

Therefore, the opportunity has arrived. The value of researching and investing in projects now is far greater than before.