People are comparing it to 2015. I like to think that the full cycle is 3 years of boring and 1 year of excitement.
I’m also expecting an s-curve where one of these upcoming cycles accelerates above prior trends. It feels like we’re approaching that day as global debt levels rise, dedollarization gains momentum, etc.
Until then, we have an opportunity to get cheap sats from bored people who don’t play the long game.