People seem to forget that we're trading way ahead of any levels we'd previously be at, during a similar time in the cycle.
We've never hit all time highs or even close to it prior to the halving.
Of course we got a perfectly reasonable argument as of why in this case, which are the ETFs in my opinion.
Yet, a few weeks of slowing down makes people think it's all over already.
For reference, comparing similar times within the cycles:
- In 2020 $BTC Traded at -65% from the previous cycle's highs.
- In 2016, $BTC traded -70% from the previous cycle's highs.
Even if #Bitcoin were to go down to let's say $50K (which I'm not even counting on at this point), it would still be way ahead of where we traded in the previous 2 cycles.
It's all about perspective.