Bitcoin's real bear case: years of stagnation, not an 80% crash
Alexandre Laizet's worst-case framing matters because it divorces the drawdown from a V-shaped recovery, the assumption baked into most long-horizon Bitcoin theses.
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Alexandre Laizet's worst-case framing matters because it divorces the drawdown from a V-shaped recovery, the assumption baked into most long-horizon Bitcoin theses.
BTC has closed under its 200-week SMA on only ~10% of trading days since 2017; those entries have historically delivered median 113% one-year and 313% two-year returns.
Each obituary arrived on schedule — and BTC still posted a 701,300x return through every one of them, a track record the next bear market will be measured against.