Right now, before the ETF approval which may give us some breathing room, I think we may go to a scenario of more pain and re-test the bottom of the power law model like in 2015 and 2016.

I'm not basing this on anything, it's just a gut feeling.

Macroeconomic conditions are totally different from the cycles that have occurred over the last 100 years, it is very difficult to forecast what will happen.

I think bitcoin will grow little by little but I don't expect a massive bull run.