How to Escape the Peak in a Bull Market?
Many people say that those who know how to buy are learners, while those who know how to sell are experts.
Buying at a good position is relatively easy, but at the high points of a bull market, many people fail to sell in time due to their inability to overcome their desires, resulting in significant drawdowns or even losses.
Therefore, escaping the peak is the most critical step in a bull market. In the upper regions of a bull market, almost everyone is making money, but in the short period when a bull market turns into a bear market, only 10% of people can preserve their profits. Especially in the cryptocurrency space, this time frame is getting shorter.
Looking back at historical trends, the bull market at the end of 2017 took about a year to bottom out, while the bull market in November 2021 also took nearly a year to reach its bottom in December 2022. During this year, selling at any time would have been correct, but making the decision to sell is a significant test of human nature. In a bull market, there are usually two to three mid-way adjustments. After each adjustment, the market continues to rise, until the last adjustment when everyone thinks it's a buying opportunity, only to find that the bull market has ended and the market plummets.
