Analysis of the Six Stages of the Bull Market, Big Brother, can you tell me which stage we are in now?

The six stages of the bull market are actually a very concise psychological depiction of market sentiment. We can break it down and analyze each stage in detail, corresponding to the typical psychology and market behavior of investors:

First Stage: Do not believe it will rise.

- Psychology: Most people are skeptical about the market rise, believing it is just a short-term rebound or illusion.

- Behavior: Funds are cautious, primarily observing, with low transaction volume.

- Characteristics: This is the embryonic stage of the bull market, smart money may start to quietly position, but the public still does not pay attention.

Second Stage: Believe it will decline.

- Psychology: The market shows slight increases, but investors still believe prices will fall back.

- Behavior: Some early investors may buy at low prices, mainstream funds still observe.

- Characteristics: The market begins to show divergence, and market fluctuations increase.

Third Stage: Rise to disbelief.

- Psychology: Prices rise rapidly, exceeding most people's expectations, everyone begins to doubt the authenticity of the market.

- Behavior: Observers begin to hesitate whether to enter the market, seasoned investors may start to take profits.

- Characteristics: The initial peak of the bull market, market sentiment is both excited and cautious.

Fourth Stage: Rise to belief.

- Psychology: The upward trend is obvious, more people begin to believe that the bull market is real.

- Behavior: Large amounts of funds pour in, the market transaction is active, and even leveraged trading begins to intensify.

- Characteristics: This is a typical mid-stage of the bull market, the increase continues, but risks are also accumulating.

Fifth Stage: Neither rising nor believing.

- Psychology: Prices stop rising or even consolidate, investors begin to doubt the sustainability of the bull market.

- Behavior: Some profit-takers exit, observers hesitate to enter, transaction volume declines.

- Characteristics: Adjustment period in the late stages of the bull market, market sentiment shows differentiation.

Sixth Stage: Do not believe it will rise.

- Psychology: Even after the bull market has ended, most people still do not believe that the market ever existed or has ended.

- Behavior: Funds exit, the market is sluggish, waiting for the next opportunity.

- Characteristics: Typical end stage of the bull market, sentiment is pessimistic, but smart money may have quietly positioned for the next bull market.