Are you still superstitious about institutions? Why do these institutions fail to predict? It's because their business models require them to always be bullish on Bitcoin.

The profit model of exchanges and trading platforms is transaction fees and wealth management service fees. Only when the market is hot and the expectation of price rise is strong will retail investors experience FOMO and trade frequently.

The profit model of asset management companies and ETF issuers is to charge management fees. Only by attracting more funds to purchase their ETFs or funds can they increase their management scale and earn more money.

For sell-side analysts and media, visibility and traffic are needed, which in turn convert into advertising and consulting fees. Extreme bullishness is the easiest way to gain headlines and click rates from the noisy information. Mediocre forecasts attract no attention.

When an analyst's income is unrelated to your trading results, predictions become marketing. Origin Research has chosen the most difficult subscription-based business model - this means our interests are highly aligned with users. If the analysis loses value, users will churn. It is this sense of crisis that forces us to eliminate the noise and only provide decision-making bases that are truly responsible for trading.