This time it surged 20,000 points with almost no pullback

Why doesn't the market drop quickly? This is because if the big players sell all at once, they won't get a good price; their volume is too large, so they can only sell slowly. Each time there's a rebound, they take the opportunity to sell off using various positive news. The kind of catastrophic market situations actually stem from a chain reaction, and these opportunities are chances to make money. After a sharp decline, it won't be long before there's a rebound, and many bold individuals will take the risk to profit from the emotional response. Therefore, the decline can be very torturous, especially for altcoins. If a panic sell-off occurs all at once, you might really be scared into cutting your losses. However, in reality, it rarely plummets at breakneck speed; it usually goes down, up, down, up, pulling back and forth like this. For example, if the price is 10, and after six months it suddenly changes to 1, it has dropped by 90%. During this process, it seems like something has blinded you, and you have no idea what is happening.