I don't understand. I thought the next bubble would usually produce a new ATH of at least 3x the previous one. Since that was 1200, this one should be between 3000 and 4000. Care to explain ?
i could be totally wrong, but i think hes saying we're gonna get to that 3x bubble through a series of smaller ones (head fakes, the first being smaller than ATH). i think he compared it to 2012: in summer 2012 the price ran from $5 to $16 in August (ATH was $32 at the time, but this was still a small bubble), then crashed to $6, then quickly recovered en route to $266 in the first 2013 bubble.