#美国加密货币监管新进展 Looking back at history, it naturally makes me think of the crazy bull market at the end of 2017. At that time, market sentiment was high, and Bitcoin's price soared to nearly $20,000. But the good times didn't last long, followed by a bear market that lasted more than a year. Now, seeing the market encounter a "black swan" right at the start of December, I can't help but feel a bit worried. The hawkish remarks from the Bank of Japan, the uncertainty surrounding the Federal Reserve chairperson, and China's strict crackdown on virtual currencies—these factors stack up and indeed have caused significant shocks to the market.

However, as someone who has experienced multiple cycles, I believe it's not yet time to be overly pessimistic. Stricter regulation is the trend, but it also means the industry is moving toward maturity. Looking back to 2013, when China first halted Bitcoin exchanges, the market was in chaos. But in hindsight, that became an opportunity for industry upgrade.

Currently, the most important thing is to closely monitor regulatory developments in the United States. History has shown us that U.S. policies often have the greatest impact on the global crypto market. We need to stay cautious, but also recognize that with the continuous entry of institutional investors, the market's resilience is strengthening. Short-term volatility is inevitable, but in the long run, as long as we persist in technological innovation, the future of the crypto industry remains bright.