I think you're wrong on the timing & the prices. The general theme is accurate I just think it will more closely resembles epoch 2 or 3's price discovery. I also think the draw downs will be less severe/persistent during periods of consolidation. I suspect there are many with a desire & means to accumulate a sizeable amount of Bitcoin. I think this cohort is increasing in number. They're price sensitive & have longer time horizons than most consumer trader cohorts. My beliefs just confirm that I shouldn't be trading this stuff while attempting to increase my stack. I will probably still conservatively hedge against huge drawdowns, since I have little fiat income now.