I hope this bull run ends soon.

Bitcoin is now around 110,000, after previously surging to 124,700 and then pulling back. Currently, altcoins are collectively crashing, and many people are starting to panic, wondering if a bear market is approaching.
In fact, this is quite normal. Many people who believe in the four-year cycle become paranoid every time there is a price correction, worried that the bull run has come to an end. However, those who truly believe in a long bull run are rarely decisive in building their positions above 100,000. The end result is often that some people exit during the correction, while those who haven't entered are also slow to do so, leading to fewer and fewer coins in everyone's hands.
I personally still choose to believe in the four-year cycle. It's not about waiting for a certain price of Bitcoin, but rather waiting for the moment when this cycle truly ends, to say a proper farewell and start anew.
Every round of rise will have a "calamity", but the number of calamities may be more than expected. As of now, whether it is indicators, sentiment, or my own intuition, I am also gradually accepting the process of separation from the future and Bitcoin, so I am slowly broadening the scope of my investments.
Short-term BTC is unpredictable, but long-term predictions are fundamentally unnecessary. 120,000 is definitely not the endpoint. Microsoft's stock price was $45 in 2015, and now it's close to $500; Apple's was $30 in 2015, and now it's over $200. At that time, it seemed unattainable, but in ten years, it increased by 7-10 times. Is it really impossible for Bitcoin to increase tenfold to $1 million in the next ten years?
Whether you invest 100,000 or 1 billion, Bitcoin as a long-term certainty opportunity is enough to allow people to achieve a leap in social class. What is truly lacking is just understanding its essence – a globally unique value benchmark.
Why do I still believe in cycles? To put it simply, it’s a kind of "mysticism." Every new round of players has to be baptized by the market: the veterans from 2013, the retail investors from 2017, the American retail investors from 2021, and now the ETF retail investors and institutions this year. Only when everyone has experienced "death and resurrection" will Bitcoin enter a super long bull run like the Nasdaq. Right now, the main players are still ETFs and institutions, and there is a strong tendency to chase highs and sell lows, which is still a bit far from true belief.
As for market tops, I also refer to some indicators myself: long-term holding ratio, funding rate, community sentiment, Google searches, cycle indicators... but in the end, it still comes down to the strongest human function - intuition.