Most of us that come into cryptocurrencies trading have this in mind that when bitcoin is in bearish trend we are loosing money and that is why we are seeing thread of loses in this bearish market. Few know that you can trade usd/bitcoin and make money in this bearish trend all you just need to do is change your analysis from what you are used to to what is happening now and you will make money.
Day trading has been profitable for me for the past 2-3 weeks as the price continues to grows. When I started day trading, the initial costs of one bitcoin was around $3,800-$3,900 and it was very unstable at that time. I withdrew and cashed out my bitcoins even if the profit margin was small. Now, the price has grown up to $4,000~ and these short-term investments proved profitable.
Profit making is definitely possible in any type of situation but the risk is so much higher so we cannot take any steps with riskiest situation right now but a lots of people still no making money with low price in trading..
It actually depends on how you want to play the market situation. Day trading is definitely risky but if you have the means of doing so then it could profitable but like what you said, the risks are definitely higher compared to a bullish run situation.