There are only so many times a market can go through large bull and bear cycles and still survive. It gets harder each time people get burned to convince them to come back to investing in the future.
That's an interesting point, though I don't know how true it really is. I do know a lot of people have been burned with bitcoin and may never come back--but on the other hand, how many people do you think have been burned in the stock market in the past 100 years? The stock market still exists, and it still goes through bull and bear cycles, including times of extreme volatility.
This guy's prediction depends on an enormous
IF, i.e., if history repeats itself perfectly. There's little chance it will and no reason to expect it should do so. To me, it's just empty words, very much like everything else TA people spout.