You haven't been paying attention and aren't good at math.

First of all 20x to 3.5x is an acceptable drop but 3.5x to 1.6x isn't?

2nd. Leverage junkies and custodians papering instead of buying set the price, not buy and hold folks. Bears happen because a dip catches a paper custodian out cascade killing longs which catches the next paper custodian and so on.

Only 1.6x with all those new buyers and markets. You really wanna bet none of the custodians is papering? You really want to bet we won't hit a dip big enough to run their reserves dry?

Every cycle brings more true believers but it also brings more cheats out to use a name to line their pockets. I'm not a bear. I'm just not a moonboi with rocket emojis in my eyes. We will get there but only with the repeated sacrifices of the over confident. I'll be buying when the dip comes tomorrow or whenever it gets here just like I bought all the way down and all the way up before.