Following the 32 top, it took 1 1/2 years to make a new alltime high.
Why do you guys think it cannot happen again? Or happen even worse? In 2011, things looked awesome too. But then came the bear market, 6 months long, 95% loss. Slowly, progress was actually undone as merchant acceptance dwindled etc. Why? Because the price fell. It is all feedback loops.
The price does cause the news because it triggers or "unlocks" certain events, and the news is reflected in the price before it comes out, usually. Practical example: Had the price not risen so much so fast, the Chinese government wouldn't have done anything yet, probably. And, is it not easy to imagine that insiders on the chinese exchanges held back buying before and instead sold, which reflected in the chart patterns?
You mean this? I've seen all this before, that's why I keep trying to tell you guys; I have been a victim of this in the past too. Latter 2011 and 2012 were likely the most productive times of Bitcoin, yet it was the worst of times for their value.
Here is another way to look at this: Adoption and price aren't inextricably linked. Look at the price of the NASDAQ (still off its highs from 14 years ago) and the adoption of the internet.