In a bull market, do you feel like you’re so incredibly “bull” you can’t be beaten?

Buy any coin and it goes up. Even going all-in with your eyes closed can make money. Talk with confidence and you’re always saying “a hundred-bagger coin.” You feel like the chosen one—your cognition is crushing everyone else.

But have you ever thought: are you earning money from your skill, or from the cycle?

When the bear market comes, the tide goes out—you can see who’s been swimming naked.

All the so-called brilliant moves of the past turn into bag-holding.

Those who shouted “long-term holding” end up getting cut at the bottom.

And those who thought they were buying the dip get stuck in the middle of the mountain.

That’s how crypto works: in a bull market, it turns you into a god; in a bear market, it tests your soul. Whether you’ve been profiting from real insight or from cyclical tailwinds becomes clear once the bear phase is over—then the winners and losers are immediately obvious.