A friend cried, 'Everyone says the bull is here! There are stories of wealth everywhere, friends, friends of friends, and passersby, it seems like everyone is making money. Every time I open the group chat, it’s messages of ‘I doubled my money again’. Occasionally there’s a big topic, and someone achieves financial freedom... But looking back at my own account, not to mention making money, it’s good enough that I’m not losing money.'
This makes him unable to help but wonder: where did the problem lie? Why is it that in a bull market, everyone else is making money, but he isn’t?
In fact, the profit effect in a bull market often carries an 'illusion'. People are overwhelmed by the continuously rising market and think they can earn money by simply investing, but that's not the case. Some people make money often because they laid out quality projects before the market started, while many rush in at the tail end, buying coins that have already been hyped up, making late entries naturally difficult to see significant returns. Alternatively, some buy too early and get trapped at high points, while others wait for a dip to buy low, benefiting from a V-shaped recovery, and it’s not an exaggeration to say they 'made a killing'.
The volatility of the bull market is indeed tempting; some people can't help but frequently trade, chasing highs and cutting losses, fearing they’ll miss every wave of increase. However, frequent trading increases costs and risks, and a small mistake can lead to being trapped. In contrast, those who make steady profits are usually more patient; they focus on a few mainstream coins or quality projects, choosing to hold for the long term, earning the high probability returns that large market movements dictate, rather than quick short-term profits.
Similarly, some people make money but then lose it again in just a few days. That’s why some people sigh: in the crypto circle, you earn money and then spend it; no one expects to take it home! A lack of clear strategies and risk awareness is also a common reason for failure in a bull market. The bull market makes people hot-headed; everyone rushes to buy as soon as they see prices rising, thinking they’ll be the next to get rich, but reality often proves otherwise. With rises, there are definitely falls; if positions are too heavy, even a small drop becomes unbearable, leading to selling at a loss, resulting in repeated losses and unsatisfactory returns. Those who truly make money usually have a clear awareness of the logic before they act, knowing their goals and exit strategies, being neither blindly impulsive nor greedy.
At the same time, during a bull market, information is flying everywhere, and every group chat seems to have 'insider information' and project recommendations abound. Many people blindly believe these so-called 'news', and as a result, buy unfamiliar projects and get trapped at high prices. In contrast, those seasoned players have their own research directions and use news merely as a reference, rarely following the crowd, which reduces the chances of falling into pitfalls.
There is another situation that drives people to despair: the bull market keeps rising, but either you exit early and miss the main surge, or you give up on your take-profit point due to greed and end up getting trapped. Investors with a stable mindset often know to set reasonable take-profit points, take profits in batches, and cut losses in batches. Although they can't profit from start to finish, controlling risks and exiting with satisfactory gains is also a more prudent choice.
The reason you can't make money in a bull market is actually quite simple: it's not that you're incapable, but that you're swayed by various emotions and strategic misconceptions. Calmly analyzing the market, formulating reasonable strategies, and maintaining a good mindset might mean that in the next bull market, the person sharing their profits in the group chat could be you.