X @Raoul Pal

RT Julien Bittel, CFA (@BittelJulien)These are all solid points.Let’s take it one step further…Think back to the 2016 to 2017 cycle.Bitcoin took a 20% hit, two 30% hits, one 35% hit, and three separate 40% flushes. It was relentless. Yet the market still delivered a 46x move.The human mind conveniently forgets how awful those corrections felt because the final outcome rewrote the narrative.Now look at this cycle...We have had four 20% pullbacks and now three 30% pullbacks (chart 1).Nothing about this is new ...