According to @MRRydon, bull markets make you money while bear markets make you rich, emphasizing that wealth is primarily built by positioning during downturns rather than chasing late-stage rallies, source: @MRRydon. In crypto, bear phases frequently see BTC trading at or below its realized price, a condition Glassnode identifies as typical of bear markets and historically associated with better long-term accumulation zones, source: Glassnode on realized price and cycle analysis. Entering at lower valuations reduces average cost basis and improves expected risk-adjusted returns relative to late-cycle buying, which aligns with margin-of-safety principles, source: Benjamin Graham, The Intelligent Investor; CFA Institute research on valuation and expected returns. Actionably, traders can stage limit buys, keep dry powder, and enforce strict invalidation to cap downside during prolonged downtrends, aligning practice with the quote’s framework, source: @MRRydon for the principle; CFA Institute for risk management practices.