Why do 99% of retail investors still lose money in a bull market?

It’s not because the market is bad—it’s because the market is too good.

When the market heats up, all of humanity’s weaknesses come rushing out.

A bull market has never been a stage where everyone gets rich together. In essence, it is a redistribution of chips. Those who endured the bottom and those who rush in during the middle and later stages are inevitably not the same group.

What truly determines whether you can make money is not during the bull market—it’s whether you were already in the game before the bull market arrived.

Retail investors’ problems always show up in timing.

When prices fall, they check bearish news every day; the more they read, the more afraid they get, and the more afraid they get, the less they dare to buy. When prices start rising, they begin to look for reasons to say this is a slow bull market and that a pullback is still coming. But then one green candle after another breaks their mindset. In the end, they finally chase in—right at the spot where the big players are distributing.

The order of actions is almost universal: when they’re afraid of losing during the drop, they sell at the lowest point; when they’re hoping to double during the rise, they chase at the highest point. It’s not that they don’t try—it’s that every attempt ends up in the exact wrong place.

The harshest thing about a bull market is that it will infinitely amplify your flaws.

When you’re greedy, you think you’re a genius; when you see a drawdown, you start to doubt life itself. Seeing others double their money makes you want to switch coins; seeing smaller coins surge wildly makes you fantasize about getting back to even in one shot. In the end, you hand back everything you made earlier.

More realistically, most people aren’t even here to invest—they’re just gambling under the disguise of a bull market. They don’t look at cycles, don’t look at structure, don’t understand what the smart money is doing—they only watch whether it went up today and whether it can double tomorrow.

For people like this, a bull market is just a tool to speed up losses.

The people who truly make money in a bull market are often the quietest.

While others are getting euphoric, they’ve already started to slowly let go; while others are in despair, they long ago secured their chips.

A bull market is only a stage for cashing in on what you already know—it’s not a stage for learning what you know.

The crypto world is full of uncertainty and challenges, but it also contains opportunities. Stay calm and rational, and use a steady strategy to deal with changes in the market—you’ll have a chance to go further.$LAB $SPELL