What exactly governs the rhythm of the Bitcoin bull market? Many believe the largest gains occur at the beginning of the bull run, but in reality, it's quite the opposite.

The first quarter is indeed a critical period to watch. According to historical cycle analysis, the main upward wave at the end of each bull market tends to be more astonishing than the initial gains. Why is that?

The core reason lies in the different phase characteristics. The early stage of a bull market is a quiet accumulation period for institutions and large investors, with limited trading volume, and steady but modest gains. By the time the market reaches the end of the bull run, the situation changes—initial accumulation is mostly complete, retail investors' FOMO reaches its peak, and market liquidity creates a resonance effect. Long-suppressed expectations and capital are released in this phase in a final surge.

It's like a spring— the longer it's compressed, the more powerful the rebound. The crypto market's performance is often more exaggerated because participant sentiment swings are inherently more intense than in traditional markets.

If you look at recent Ethereum and Bitcoin performance and still think the gains are impressive, it’s advisable to reassess. The real acceleration phase might just be beginning. Doubling your investment at this stage is hardly an aggressive expectation.

History doesn't repeat exactly, but market participants' psychological patterns do. This time, the only difference is whether you're prepared in advance or only start chasing after the market takes off.