Bull market, is it to attract retail investors or to drive them out completely?

Yesterday, I saw two people arguing.

One said, without retail investors, where would the bull market come from? The other said, if we don't drive retail investors out completely, where would the bull market come from?

To be honest, I lean more towards the latter. After experiencing three cycles of bull and bear markets, I found that the starting point of a bull market is usually when retail investors are forced to liquidate their holdings. The reason I used the term 'forced' is because this despair is something only retail investors truly understand. The pain of ultimately cutting losses is surely heart-wrenching.

Please follow if you have questions that need consulting or want to discuss and learn together. Check out the introduction to our cooking business to avoid unnecessary troubles.