The biggest bearish factor right now isn’t the bear market—it’s the fact that the stock market next door keeps making money. The hardest part of this cycle isn’t losing money—it’s realizing you’re becoming less and less willing to believe. In 2021, everyone believed the bull market would keep going up. In 2022, during the crash, everyone believed the next bull market would definitely come back. But today, the scariest change in the market isn’t the price—it’s the wavering of faith. A lot of people still have positions in their accounts. But they haven’t checked the charts in ages. Many say they’re optimistic in the long term, but as soon as prices rise, they just want to break even. Many people are still in this market, but their hearts have already left. Anyone who’s been through a few cycles knows: What truly drives people away is never the crash. It’s the long, drawn-out disappointment. A crash only hurts your capital. The endless volatility and repetition wear down your conviction. When someone starts to question: “Is this time different?” “Is there no chance left for crypto?” “Will the bull market never come back?” They’re already close to surrendering. But the cruelest part of the market is this: most people leave in despair, only to come back during the frenzy. What they miss isn’t the opportunity—it’s the last shred of their patience. That’s why I’m starting to believe more and more that the money made in a bull market isn’t about knowledge—it’s about perseverance. Because just surviving until the next cycle means you’ve already won half the battle.