Even if there are 100 more bull markets, retail investors still won't make money. As a seasoned retail investor, here are the reasons;

1. Don't know how to choose coins.

2. Don't dare to buy in heavily, even if the right target is chosen.

3. Can't hold on, selling at the slightest profit.

4. Frequently switching back and forth, can't wait for the main upward trend and miss the rise.

5. Believing in rumors, chasing at a high position.

6. Worrying about gains and losses, fearing drops and rises, unstable mindset.

7. Spending too much time watching the market, getting thrown off at the slightest fluctuation.

8. Adding positions at a high point, losing everything at once; when the bull market ends is when the losses are significant.