It’s called a flight to safety to bitcoin. Map out the macro highs and lows of the 2013-2017 cycle and, apply it to this cycle. There’s a bump for the halving. Things cool off. There is a secondary pump to slightly higher levels, followed by a prolonged sideways market before the parabolic run to ATH and subsequent crash.

All the previous cycles have this in common, except the current one. This one has us at the beginning of the prolonged sideways market, after four years. It explains the lack of a blow off top this cycle. That would put us at $120k for the next cycle and $500k for the cycle after that with it never coming back down. The dollar will die at $12M, otherwise we would see a $22M Bitcoin.