There has been a consistent trend according to the Bitcoin podcasts I follow. During the bull market, people degen and take on leverage then get wrecked and a bear market happens. We’ll see what happens this cycle.
Discussion
It just seems too obvious. Current sentiment makes it seem like the top will be 120k and there will be a chance to buy at 30k later. I can only see -75% happening again if we melt up to closer to $1M.
Sentiment is usually not a good measure of what the price will do. People thought we were going to $250k last cycle and we topped at $69k lol