Tilling the soil is necessary before planting, and making money also requires hitting the right rhythm.

Have you recently had this feeling—looking at the market, it seems like everyone is making money, but your account remains still? Don’t be discouraged; this actually indicates that you might be on the right track.

Having gone through two complete cycles, I want to be honest with everyone: the early stage of a bull market is actually the easiest time to suffer losses. It’s not that there are no opportunities in the market, but that the shape of those opportunities often doesn’t match your expectations.

What is the market doing at this stage? To sum up in one sentence—accumulating chips. The truly patient and strategic funds are quietly entering the market. They don’t operate loudly; instead, they gradually build positions when market skepticism is at its peak.

This is clearly visible from on-chain data. The long-term holders of Bitcoin have an average cost basis of around $25,000, while short-term holders who bought at higher prices have an average cost of about $92,000. This comparison itself tells a story—those with patience are always the winners.

My observation is that the current market is roughly in the mid-stage, like a game that’s only halfway through. There’s still plenty of time for you to adjust your strategy and prepare thoroughly.

The bull market actually has three clear stages. The first stage is now—the accumulation phase. Market fluctuations are relatively small, and various news have limited impact on the overall trend. Funds within the market are constantly competing. This period tests your mindset the most; most people are still hesitant and watching, while true strategists are quietly making moves behind the scenes.

The second stage is when participation and emotional enthusiasm generally increase—that’s when the market becomes truly crazy. The third stage is the final sprint and the bubble formation phase.

Your current position is the best time to accumulate chips. Don’t rush to chase hot topics, and don’t be scared by short-term volatility. Just like farming, you need to loosen the soil first; the market’s soil is currently being loosened.