1. General losses: In the first half of this year, the market generally showed a loss trend, most people were losing money, and only a very small number of people were able to make a profit. Among the losers, there are many old leeks in the cryptocurrency circle. Even if they have abundant resources and principal, this round of bull market has dealt a heavy blow to them, and many people have fallen into a dilemma that they cannot get out of.

2. Collective panic: In the past, people generally believed that BTC would usher in a big bull market two or three months before and after the halving, but the reality is that BTC has already risen rapidly last year, leading to many people's misjudgment. Similarly, the altcoin market has encountered a similar dilemma. When everyone thought the market was about to start, in fact, the market was nearing its end. After many people missed the opportunity of BTC's rise, they flocked to the altcoin market, but encountered a continuous decline and failed to make a profit.

3. Altcoin Collapse: In this round of bull market, many altcoins will face the risk of returning to zero. Unlike previous rounds of bull markets, today's consensus logic and investment standards have changed dramatically. Altcoins are no longer seen as investment opportunities, but as high-risk, low-return assets. With the collapse of consensus and the exposure of insider information, the altcoin market collapsed rapidly, and many people suffered huge losses.

4. Collapse of VC consensus: Investors’ faith and respect for venture capital gradually weakened, and the credibility of the words and actions of venture capital institutions and investors in the market was greatly reduced. This has caused many projects and startups that rely on venture capital support to face unprecedented challenges.

5. Increased difficulty in project entrepreneurship: In the current market environment, project owners need to have a deeper understanding of future trends, community needs, marketing, and community operations. However, the difficulty of these areas is increasing, resulting in fewer and fewer successful projects. At the same time, retail investors’ trust in project owners is also decreasing, forming a vicious cycle.

6. Cryptocurrency dividends fade: As the cryptocurrencies dividends gradually fade, many people begin to rush to pursue the goal of quickly achieving financial freedom. This anxiety spreads in the market, causing many people to worry about their future in the circle after this round of bull market.

7. Ideological change: This round of bull market has not only brought market fluctuations and losses, but also brought many changes in ideology and consensus. Investors and participants need to re-understand the current situation and future trends of the crypto circle, and not be too impatient, discouraged or happy too early. At the same time, they should also maintain a clear mind and calm judgment to avoid being confused by short-term market fluctuations.

8. Unexpected changes: This bull market will make many people's accumulation of many years go to waste, and some unexpected things will happen. Although the risks and uncertainties in the market are increasing, we must also believe that only after experiencing such baptism and tests can we face future market challenges more maturely and rationally. Therefore, in the face of the cruelty and complexity of this bull market, we must remain calm and rational, and do not give up easily or excessively pursue short-term interests.