I see you have applied weak math / accounting.

Measuring from the absolute bottom! Come on man!

People should apply man math - strong math.

Measure from cycle top to cycle top.

OR

Cycle top to NOW.

Measuring from the absolute bottom is no bueno, Friendo.

Most retail folks buy the tops - accounting should reflect this.

From 2021 (69k top) to now (108k) is trash.

Bearish AF.

4 years later, post halving, with record ETF inflows, record pleb accumulation, record Bitcoin treasury accumulation and the most favourable 🇺🇸 Bitcoin legislation combined with record hash rate for mining and to only achieve a 1.6X over 4 years!

Are you kidding me!

Imagine what the price would be at without all those gigantic tail winds.

Stay humble and stack sats for 12 years (2.5 cycles).