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It's pretty baffling to me.
How so many people are expecting Bitcoin to just keep pushing lower.
Bitcoin dropped to $60,000, below its previous ATH.
The only other time it did this was in 2022, when it dropped to $15,000, which was 20% below the $20,000 ATH.
But in 2021 Bitcoin pushed 3.5x above its previous ATH.
In this cycle, we only pushed 0.7x above previous ATH.
If we dropped to under $50k, that would be 30%+ below the 2021 ATH.
So what you are expecting is the largest drop ever below a previous ATH, after the weakest price push ever?
All at the same time as the Business cycle has started expanding again?
It's not gonna happen.
And this all comes from the fact that everyone is expecting the 4 year cycle to play out, because they cannot see beyond it.
Many, many will be trapped.