Each round of Bitcoin's bull run has its unique characteristics. Based on historical data analysis, we can identify some patterns:

During a bull run, Bitcoin typically experiences at least two significant pullbacks of over 40%. These large price fluctuations often trigger panic in the market, but in reality, this could be a rare entry opportunity.

At the same time, moderate pullbacks of 20% to 30% occur at least 5 times in each bull run. This level of adjustment is generally regarded as healthy market behavior, laying the foundation for subsequent increases.

More commonly, small pullbacks of about 10% may occur dozens of times throughout the bull run cycle. These small fluctuations provide investors with opportunities to continuously optimize their portfolios.

The current downward trend in the market may make many investors feel uneasy, but in the long run, this could be the last good opportunity to build positions in the first half of the year. The panic in the market often leads to excessive selling, and wise investors will take advantage of this situation by gradually increasing their holdings as prices drop.

Looking ahead to the second half of the year, as the cumulative effect of several favorable factors gradually becomes evident, we may welcome a strong bull run. However, investors still need to be cautious and implement risk management, as the volatility in the cryptocurrency market remains high.

Remember, in the world of investing, opportunities often coexist with risks. Staying calm, analyzing rationally, and maintaining a long-term perspective are essential for achieving success in this market full of opportunities and challenges.