I had one thought to add:

If bitcoin and alts were to rally two years in a row, this would likely classify quite a few people as accredited investors in the USA.

Assuming that quite a few folks sold enough to bring their income into the >200k USD range and likely both claimed and paid taxes to indicate this on their tax returns for last year, if the trend were to happen again this year .. it would actually allow many likely totally unprepared folks to now be technically qualifed as individual accredited investors, due to having earnings of over 200k for two years in a row, even if their total net worth is less than 1 million dollars.

Based off of this alone, I made a speculation that there would be no rally this year and if we were to pop to 10k again, it wouldn't be until after January next year if it were to rally at all. Naturally I didn't adhere 100% to my own speculation and have been buying (~50% back in already assuming a bottom in 2020) since going under 10k.

Because I might be totally off base in assuming that potentially creating accredited investors in one of the major sources of fresh bitcoin money would act negatively on the price in the medium term, or deeper down that thought is that the market is in any way rationally looking to protect itself.

Are there similar qualifications elsewhere that might cause some sort of natural tendency of large market traders to forego pushing the price up to profitable ranges?