Every time the bull market experiences a washout, some people get forced out, and then they buy back at higher prices after it rises again, ultimately getting stuck at the peak and losing everything.
In this round of the bull market, the main players are washing out even harder, and fewer people will make money. It can be anticipated that when this round of the bull market ends, only a small group of people will become rich, while the majority will incur losses. Those who lose are the ones who bought high and sold low, while those who become rich are those who sold all the way up as the bull market rose.