The world is so big, we should go take a look. As cryptocurrency enters a bear market, with fewer trades happening, I finally allow myself to relax my tense nerves and reflect on the industry, on investments, and on myself. A few markets and several main lines: First, whether we admit it or not, AI is the sexiest narrative in the world today, with a logical closed loop and a clear developmental prospect, a national strategy, and capital chasing after it. The AI industry is currently transitioning from a period of computing power expansion to a phase where infrastructure bottlenecks become apparent, while capital is moving from "cloud---electricity---materials/energy" to a second round of pricing. The AI industry is entering its second stage of development, reshaping the existing industrial and energy systems. Electricity: the power consumption of a large AI data center is equivalent to that of a small to medium-sized city, requiring stability, continuity, and non-dispatchability; The "Stargate Project": Trump referred to this project as "the largest artificial intelligence infrastructure plan in history" and stated that its development would be accelerated through an emergency declaration, especially in the energy infrastructure sector. According to available data, the U.S. power infrastructure lags far behind that of China, and electricity is a necessary demand for the AI technology revolution that the U.S. is betting its national fortune on. Starting in 2026, everything related to electricity will be the main battlefield for capital. "The boundaries of AI are never in the cloud, but in the real world." Second, the second main line is the new normal of the U.S.-China game under de-globalization, the U.S. dollar. This line has been clear for a long time and is a main line that can be associated with cryptocurrencies, stablecoins, etc. Keywords: gold, stablecoins, cryptocurrencies (which can only be ranked last) There are very comprehensive analyses by experts online regarding this line, so I won't reiterate them here. However, personally, I believe that the greater attribute of CRYPTO remains its casino attribute, being the best battlefield for retail investors' speculation and multiplication. This is in a time of ample liquidity and a hot financial market environment, at the tail end of the funding faucet, in the 3 pool of 1, 2, 3 pools. The 3 pool may be small, but the water flow is turbulent. Here, we do not pursue linear growth, only explosive growth. The corresponding strategies are: 1. wait for mainstream assets (BTC ETH) to drop to a favorable price; 2. wait for the environment to improve and for the 3 pool to run out with track-type narratives, focusing solely on track opportunities. Subjectively, I judge that crypto may not see significant opportunities until the second half or even the end of 2026. Third, what the big players are fighting over must be good. ...