I recently noticed that many people are still confused about what a bull run actually is. In fact, it's a fundamental concept that must be understood if you want to last long in crypto. So I want to share my understanding, hopefully it can help those still in the learning phase.

So a bull run is a period where crypto prices explode significantly. This isn't just an ordinary increase, but more like a real snowball effect—prices rise quickly, investors start pouring in, and the entire market feels very euphoric. It usually starts with Bitcoin, then the effect spreads to altcoins and other tokens. Such momentum creates great opportunities, but also dangerous traps if you're not careful.

There are 4 phases that typically occur in one bull run cycle like this. The first is the accumulation phase, where smart money begins buying when everyone else is still indifferent and the market is quiet. This is the most underrated phase but the most profitable if you can spot it correctly. The second is recovery, where prices start to rise slowly, trading volume increases, but not everyone is paying attention yet. The third is euphoria—this is the easiest phase to recognize because social media explodes, everyone suddenly becomes a crypto expert, and FOMO spreads like a virus. Lastly is the distribution phase, where whales and early investors start taking profits, the market becomes unstable, and this marks the beginning of the next crash cycle.

I see some signs that usually appear when a bull run is underway. First, rapid and consistent price increases, especially Bitcoin first, then altcoins follow. Second, crazy hype on social media—every day there’s positive news, influencers sharing analysis, and crypto discussions dominate timelines. Third, real FOMO everywhere, people afraid of missing the golden opportunity. Fourth, certain sectors like NFTs, DeFi, or meme coins suddenly trend and become hot topics. Fifth, new projects launch every week with tempting promises.

Now, about the opportunities that can be taken during a bull run. Investing in serious projects with good fundamentals can yield significant returns. If you're a trader, this is the right time to apply the trading strategies you've prepared beforehand. Some also leverage this momentum to launch their own Web3 projects because adoption and liquidity are high. And most importantly, use this opportunity to learn more deeply about smart investing.

But I need to remind you, a bull run is also a dangerous period if you don't manage your emotions well. The euphoria can cause people to make irrational decisions—invest all assets, follow hype without research, or follow the crowd blindly. The result can end tragically when a market correction comes. So what's important is to stay clear-headed, manage your risks well, and never follow the crowd with your eyes closed. I’ve seen this cycle many times since 2017 and 2021, and the pattern is always the same.

When do you think the next bull run will come? Or do you have experiences from previous bull runs that you can share? Write in the comments, I’m curious about your perspectives.