According to Compounding Quality (@QCompounding), Sir John Templeton’s famous quote on market cycles highlights critical psychological stages that traders should recognize: bull markets begin in pessimism, grow during skepticism, mature with optimism, and end in euphoria (source: Twitter, May 8, 2025). For cryptocurrency traders, identifying these emotional phases can help spot potential trend reversals and manage risk more effectively, especially as crypto markets often experience amplified cycles. Recognizing signs of euphoria, such as rapid price surges and widespread retail participation, could signal the need for caution or profit-taking.