The bull market will eventually come, but the way it arrives may surprise many, especially those retail investors who are still desperately shorting the market.
Let's take a look back at the recent significant rises:
1. The first major surge occurred on October 16, 2023, when news suddenly spread that Bitcoin had passed the ETF, resulting in Bitcoin's price jumping nearly 10%. However, not long after, it was reported that a Twitter account was hacked and the news was false. Retail investors thought this was a perfect opportunity to short and make a quick profit. Unexpectedly, Bitcoin's price soared from over 20,000 to over 40,000.
2. The second major surge was when Bitcoin really did pass the ETF, and some retail investors started to go long, but more were still observing because this time the news was true. As a result, the price dropped to around 38,000. Retail investors felt secure, thinking that Wall Street was using the ETF to offload, so they decided to short. I remember that the more Bitcoin surged, the more people shorted, and in the end, the price skyrocketed to 73,000.
So, when the bull market arrives, many may still be shorting, only to be taught a lesson by the market.
