I guess crypto price will start improving in the exchange market because the signs many researchers has been waiting for is happening already in the community. This year 2022 will be a massive achievement to all crypto investors who invested a huge amount of money on crypto last year when the price was very low in the market.
There are two sides of a coin in any market because it's a zero sum game with winners and losers inside. Money flows from pocket of losers to pocket of users.
So if it is bull market, big winners earn money from big losers. Do you think all investors earn profit in bull market? It is not, never. In bull market, people are greedy and accept to bet with new projects with hope that they will get x10, x100 easily. Yes a few of investors will earn profit like that but many of them will fall into traps of scam projects. Consequently and unfortunately their capital will be stolen, divided 10 or 100 times.