People think 2008 was such a bear market that one had to just sell and sit tight and one would have made money. Nothing could be further from the truth.

See the pic, despite being 65% down from the top in 10 months, we had 4 ferocious rallies.
The fear of recession was there from Jan& #39;08. After each new low and the subsequent rally, the common consensus #always was that "the markets have discounted all bad news and bottom has been made".
Each bear market though structurally same will have different trajectories. So don& #39;t try to interpolate the percentages now. Just understand that these fast ferocious rallies are a part of the whole structure. So choose your places to go long and go short wisely and carefully
Same scenario is 2000, a grinding bear market from 1800 to 850 Nifty levels. But see the rallies in between.

Still followed the lower high lower low structure, but the rallies were breath taking https://abs.twimg.com/emoji/v2/... draggable="false" alt="😀" title="Grinning face" aria-label="Emoji: Grinning face">
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