Investment during bullish market is actually pretty risky as the market has possibility to dip specially if you take late entry during bullish run. Just imagine people who bought BTC around $68,000. At that time, there was a chance that BTC might touch the $100,000 but unfortunately thing didn't work for the BTC and currently it is trading around $26,000. Huge set back for those who bought at higher price. Although BTC has huge probability to bounce back so that's why people prefer to keep BTC intact. It is a good move to hold your asset but on the other hand holding your asset simply mean you don't have asset for investment which itself reduces your growth.
Actually bearish market is better than investment point of view. One of the advantage of investment in bearish market is that you can accquire more coins with same amount which may increse your profit exponentially during bullish run. Such opportunity is not available during bullish market.
Bearish trend fascinate crypto enthusiast but Unforunately majority of people don't have equity available when the market is down. As a result they miss the golden opportunity of buying. Bearish market provide you opportunity to earn big reward. Such type of opportunity is unavailable during bullish run. Remember nothing is permanent either the bearish season or bullish season. It is hard to predict crypto market which is one of the mot volatile market of the world, where pump and dump is part and parcel of the market.
Remember the simple rule when the greed index is high sell your assets and when the fear index is high buy asset.