At the beginning of 2025, there were “crypto masters” everywhere: some claimed to have turned 10 times their investment with SOL, while others flaunted screenshots of “earning millions with all their Bitcoin.” But in just six months, these masters disappeared collectively, leaving behind only complaints of “losing everything and exiting.” Many people couldn't withstand the bear market, not because they weren't trying hard enough, but because they mistook the luck of the bull market for their own ability, misjudging their true level.
Here comes the real stuff: CryptoRank data shows that in December 2024, the altcoin bull market index once soared to 88 points, only to plummet to 16 points by April 2025, completely retracting the gains. The bull market at the beginning of 2025 was essentially a bubble created by loose liquidity; many people made money not because they had good coin selection or were skilled operators, but simply because they happened to be in the right place at the right time. Just like a friend of mine who bought an unknown AI concept coin in 2024, coincidentally riding the AI wave to a 5-fold increase, thinking he was the “Buffett of the crypto world,” only to go all-in at the bottom during the bear market in 2025, resulting in catastrophic losses.
A bear market is the best 'mirror' to see who the true experts are and who is just lucky. I've seen true seasoned investors who do not fully invest in a bull market and set profit-taking levels in advance; in a bear market, they decisively reduce their positions and keep cash. Meanwhile, those retail investors who rely on luck chase highs and sell lows in a bull market and stubbornly hold on during a bear market, will ultimately be eliminated by the market. Here, I must say something harsh: in the crypto world, the money made in a bull market is essentially borrowed from the market, and in a bear market, it will be taken back with interest unless you can distinguish between luck and ability.
If you are still struggling with the question, 'Why can I make money in a bull market but lose in a bear market?', it’s better to reflect on your logic for making money: is it based on trends or on your abilities? If it's the former, quickly cut your losses and leave the market to preserve your strength; if it's the latter, patiently wait for opportunities.
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