In the cryptocurrency market, we often observe how a complete bull run cycle unfolds. This process can usually be divided into several stages:

First, we will see an initial bullish phase where many small encryption currencies (commonly known as "altcoins") may experience a growth of 3 to 5 times. However, this is often followed by a significant pullback, with prices potentially dropping 50% to 80%, almost returning to the starting point.

Next, the market enters a major rising phase. During this phase, we may see prices soar again, with increases potentially reaching 5 to 20 times. This usually marks the peak of a bull run. However, when the bull run ends, we often see a sharp decline, with drops potentially reaching around 95%.

Interestingly, many investors tend to underestimate their ability to select quality encryption currencies while overestimating their ability to hold on during market fluctuations. In fact, to achieve substantial returns in this market, investors need to face and endure considerable volatility.

Investors seeking to achieve returns of tens or even hundreds of times in cryptocurrency investment must mentally prepare themselves to endure significant drawdowns, profit withdrawals, and the torment brought by market fluctuations. This is a process that requires great patience and unwavering belief.

Throughout the entire market cycle, we often see the phenomenon of different cryptocurrencies taking turns to rise, especially those considered "mainstream" cryptocurrencies. This rotation effect provides sharp investors with potential profit opportunities, but it also increases the complexity and unpredictability of the market.

Overall, the periodic changes in the cryptocurrency market remind us that investment strategies and psychological preparation are equally important. Understanding market trends and maintaining rationality and patience are essential for success in this highly volatile market.