At this point in the last cycle:
BTC hadn't reached a new ATH yet.
SOL had just launched, but between September and December, it dropped by 80%. Eventually, it recovered, reaching a 260x increase from that low.
LUNA had just launched and was about to drop by 70% over the next few months, but it ended up becoming one of those rare cryptocurrencies with a 1000x increase, though only briefly 💩.
AXIE wouldn't launch for another month or so, but after it did, it would reach 1650x. But not immediately. In Q4, it would move sideways and only pump in Q1 of 2021.
GALA had just launched, and in Q4, it was set to drop by 90% before rising by 4650x 😐.
And that's not even all the examples. I just picked some of the biggest pumps from the last cycle.
Most of them fell hard before they skyrocketed.
Every cycle in the history of financial markets, not just cryptocurrencies, when you're in a prolonged pullback, it seems like it can't get any worse.
But in reality, hard times are always pretty awful.
Good times are always really good, but only if you survive the first ones.
