Everyone wants a 2020 style correction (like the COVID-19 crash), but this cycle is not like the previous ones.

In fact, this cycle is very similar to the 2011/14 cycle and the reason is quite simple:

We have had three complete#Bitcoincycles so far and are now in our fourth.

1️⃣ 2011/14—The Early Adopter Cycle: I call this the Early Adopter Cycle because only the smartest people who truly believe in a bogus internet currency get involved in it.

2️⃣ 2014/18—The First Hype Cycle: Bitcoin’s first hype cycle was fueled by the desperation of those who heard about $BTC in 2011/14 but didn’t participate, only to see those around them make exponential profits. This cycle was further fueled by the launch of ETH and altcoins, leading to a full-blown altcoin ICO scam season.

• After the peak of the cycle, retail investors were devastated and 99% of projects launched during the ICO boom were scams.

3️⃣ 2018/22—Hype Cycle Two: This was the first major hype cycle in crypto and the second in Bitcoin. Bitcoin significantly underperformed, with altcoins leading the way. Narrative plays took over, starting with DeFi yield farming (remember YFI and SUSHI?), then GameFi, and ending with the memecoin craze (remember Safemoon?). This cycle was so surreal that the women from the previous cycle went into altcoin trading gambling mode.

• After the peak of the cycle, retail investors were devastated as one of the largest exchanges (FTX), one of the largest VCs (3AC), and one of the largest blockchain protocols (LUNA) collapsed or went bankrupt in what can be described as economic frauds.

4️⃣ 2022/26—Global Adoption Cycle: This cycle is similar to the 2011/14 cycle because we are in a similar situation: the majority of retail investors no longer believe in BTC because it is “too expensive” or “has less growth potential”.