every penny of profit that a bitcoin investor makes can only come from the pocket of another bitcoin investor...
that is assuming the market is a closed system, but it's not.
there's constantly new buyers entering the market, who also want a share of the pie, but the pie is very limited, so the more people want a share, the more expensive the shares become.
Sure, a lot of bears lost money, which made a lot of bulls a lot of money (for the first time in years, at this scale at least), but a lot of gains also come from new investors.
Give not that which is holy unto the dogs etc. How many times must this be repeated, Jorge?