1) Retail investors are not as foolish as they were in the past they know recession periods can last long, hence they wont sell the only currency that has proven time after time that it can outperform the market.
One thing I disucssed in the video (time stamp below) is an anecdotal example of a thread created by someone looking to sell their BTC to free up cash for expenses, rather than dip into their emergency fiat cash.
https://youtu.be/faAjgUZJu0k?t=121If users from Bitcointalk (who are going to be more clued up than the average retail investor) are selling their BTC to pay for stuff instead of spending their fiat, and at this stage.
Then think about how many people are going to be selling their BTC when the recession is in full force and people are really feeling the pinch.
You clearly have a long term perspective, but most retail investors are quite fickle and have a short term mindset when it comes to investing.
They don't really learn. That's why we see the same cycles every 10-15 years.