At first glance what follows looks like generic boilerplate. But I want to actually walk through it in plain language, because every line of it is true and load-bearing — not decoration. If you are a new reader, reading this page carefully will probably do more for your portfolio over the next year than reading three more market-call articles. Section 7 at the bottom covers what changes depending on where you live.

§1Nature of the content

Everything on this site is my own opinion. It is not a research report, it is not investment advice, it is not a recommendation to buy or sell any security, token or financial instrument.

The reason to write any of this down is so that someone who arrives later can avoid a few of the usual mistakes. But my view only represents "this is what I happen to think at the moment I am writing this article." It is not a declaration of truth, it is not a forecast, and it is not a promise about the future. Three months from now I may have changed my mind because new data showed up, and if that happens I will write an update and log it in the corrections center rather than quietly editing the original.

In crypto, almost everyone walks around feeling like they have figured it out. Including me. So whenever you read anything written by anyone — including me — please run it through your own judgment before doing anything with real money. I would rather you disagreed with me and made a different decision based on real research than agreed with me and lost money because you outsourced your thinking.

§2Investment risk

The crypto market is extremely volatile. That is not rhetoric, it is the historical record:

Three deep bear markets, each one wiping out about eighty percent of price, plus the kind of single-day flash crash you saw in August 2024. Before you put money in: do the arithmetic. If this entire balance dropped eighty percent tomorrow, would your life break? If yes, this money should not be in crypto. It should sit in a checking account, a money market fund, or a treasury bill — anywhere that the worst-case outcome is "you earn less than inflation," not "you cannot pay rent."

The 2024-08-05 flash crash is worth dwelling on because it broke a generation of "BTC just goes up since the ETF approval" thinking in a single overnight session. The Bank of Japan announced a rate hike, the yen carry trade started to unwind, and a wide range of risk assets sold off at the same time — BTC among them, alongside Japanese and US stocks. The point is not that the carry trade specifically matters for crypto; the point is that crypto tends to move with broader risk appetite. When global liquidity tightens, crypto often goes down with everything else, sometimes harder, because the leverage is higher and the liquidity is thinner. Don't count on crypto as a hedge against traditional markets; in sell-offs like this one it has traded like other risk assets.

Nobody can promise you a profit in crypto. What you can do before buying is work out how much a deep drop would cost you, and whether you could live with it.

§3What you should actually do · DYOR

DYOR means Do Your Own Research. The phrase has been used so often in crypto that it has been almost completely drained of meaning. Let me unpack what it actually requires, in my view:

These five rules sound boring. But going all-in, using leverage, or having no cash buffer when prices drop can each force you out of the market. These five rules are aimed at exactly those.

§4Affiliate disclosure

I want to address this directly.

The exchange links on this site (Binance, OKX, Bybit, Bitget, HTX, MEXC, Gate, LBank, and others) are affiliate links. When you register through my referral codes (Binance is XG188) and trade, I receive a portion of the trading fees from the exchange's marketing budget.

But your trading fees do not increase as a result — the share I receive comes from the exchange's own marketing budget, not added on top of your fee. Several exchanges actually offer you a small fee reduction when you sign up through a referral, so you may pay slightly less, not more.

You are completely free to skip my referral code and sign up directly through the exchange's homepage. The articles will be exactly the same quality, I will not write a single word less, and nothing on the site is gated. The reason this page exists is to put the commercial relationship in plain sight rather than burying it. After you read this section, you decide how to sign up — that is your right and your call.

§5Content recency

Crypto moves quickly. Any article published on a given publication date represents my view at that moment, and three months later it can be flat-out wrong.

A few examples of how quickly things go out of date:

When you read older articles, please check the publication date in the header; each article header also shows a last-updated date, and the footer links to the corrections page. The full revision history is at the corrections center. The point of keeping the corrections is accountability — if I want readers to take my current view seriously, the price of admission is leaving a paper trail of every time I have been wrong.

§6Third-party content and data sources

The on-chain data, prices and market caps cited in articles come primarily from the following public data sources:

The accuracy of these data sources is the responsibility of the source providers. I am referencing them, not generating the data. If a source ever diverges from observable reality, please trust the latest first-party data you can pull yourself over what I quoted in an older article — and if you flag it, I will update the article and log it in corrections.

§7Where you live matters

This site is written for international readers in regions where these exchanges operate — check your own country's availability and rules first. A few things hold almost everywhere:

This disclaimer does not replace your judgment

The final point I want to make is the one disclaimers almost never make explicit: none of this absolves you of the responsibility to do your own due diligence. Disclaimers protect both reader and writer by being clear about what this content is and is not, but they do not turn the writer into a substitute for the reader's judgment. The tools on this site (BTC chart, support/resistance, dominance) and the articles exist to give you better instruments — they do not replace the work of deciding whether and how to use them. A reader who follows my analysis blindly, ignores their local rules and tax obligations and ends up bankrupt is not a reader I have helped, regardless of what this disclaimer says. The point of this entire page is to make sure that does not happen.

§8Contact

If you spot an error, have a question, or want to send feedback, the four contact channels are in the footer below. Twitter (X) is the fastest way to reach me. Email works better for anything long-form or that needs attachments. Telegram for short questions. Weibo for Chinese-language readers.

If what you found is a factual error — a broken link, a wrong number, a misdated event — I will fix it as soon as possible and log the change in the corrections center. A corrections trail is only worth something if it is public and continuous; that is what the corrections center is for.

Last updated · 2026-09-29 gan111.com · Gan · @mor_xiaogan