No, I dont think anyone forgets the 40-70% drawbacks.

I think folks fear we need the blowout top so we drawback off a much higher ATH.

In other words, if we dont get the parabolic move higher, the fear is that the volatility is increasingly skewed to the downside, not the upside.

I personally dont believe this to be true. I think people dont understand that historic cycles were predominately driven by supply side shock from the halvennings which, 17 years in, is tiny relative to the past.

If so, current and future price (particularly big swings to the upside or downside) is driven more by demand, and less by supply.