BlockBeats News, April 9th, trader Eugene posted, stating, "The introduction of global trade tariffs marks a change in the world order not seen in over 50 years. Free trade has been a key factor driving productivity and economic growth, ushering in the largest long-term bull market in history. The shift from openness to protectionism will have far-reaching effects, which will take several years to gradually unfold unless Trump completely abandons his tariff plan. I think the likelihood of this happening is very low. This will pose a significant long-term resistance to global risk assets."

As for cryptocurrency, the recent structural decline in active developers may be the most worrying thing. In the previous cycle, we could observe developer activity and feel reassured, knowing that our industry was still benefiting from a long-term tailwind. Fast forward 2-3 years, we have not only failed to produce anything particularly interesting or important, but the future prospects are even worse than back then.

In the previous cycle, we looked forward to the launch of ETFs and a better regulatory environment under government leadership supporting cryptocurrency as the light at the end of the tunnel. Now that these have been achieved, but once again failed to meet expectations, I cannot see anything in the future that can free cryptocurrency from its inherent 'Ouroboros' (a dilemma of self-perpetuating, self-devouring nature).

In the coming weeks to months, I hope to reduce my operations in the cryptocurrency field, both long and short, as I believe this is the wisest choice. Being a believer waiting for a new bull market is no longer a contrarian mindset. However, venturing into new greenfield (undeveloped territory) is contrarian.

For me, the only bright spot is that Bitcoin's use case and global acceptance are stronger than ever before, which may allow believers to continue to hoard Bitcoin and achieve decent returns (I hope so). By 2035, for Bitcoin to reach $1 million per coin is not a pipe dream in my view."