It isn't a "bear cycle" it's a death spiral
This is a real possibility, wether we like it or not. Dash has no divine right to have another massive growth cycle. Particularly if it continues to make economic decisions that favour its own masternode community above all others rather than providing the crypto market what it wants. I have been down this road with other projects, (Cloak and OByte to name but two).
Dash might do a litecoin and fade away almost to the point of death only to manage to hang in there just. Litecoin managed it by being a testnet for segwit. Dash might manage it somehow under circumstances I don't forsee just now.
Or Dash might do a peercoin or an obyte or a cloak and fade away to complete obscurity. living as a penny stock kind of thing all but dead. Although qwizzie will still be here rallying the troops.
I was not aiming at those lowly possibilities. I thought dash would be challenging bitcoin as a store of value, better payments, better privacy, better governance, self financed developement. Store of value was the achillies heel I didn't properly account for. Ryan Taylor's proposal to address store of value is a poor thought out joke. And if it isn't where is the big price pump anticipating it?
Sure anything is possible, even a death spiral, but Cloakcoin and Obyte never came close to Dash's success. Did either of these actually develop something new and aren't they both effectively abandoned now? Wasn't Obyte a free airdrop to BTC holders? And did Cloakcoin's ATH even reach Dash's low in this bear market?
At least PPC developed something new and after being abandoned has a development team behind them again. You think Dash was abandoned?
Anyways, I've made my case, Dash will likely follow LTC's path (Feb-Mar 2017 and even now to a certain extent). Now we just wait to see. Place your bets by either buying, selling or holding...
And stop putting much of any weight on the whole store of value thing. Nothing has materially changed with Dash's allocation split between masternodes and miners since well back before the last bull market. This is the fact that no one has even attempted to explain away. If anything has changed, it's reduced inflation and less rewards to both masternodes and miners this time around which should act as positive on the price.
Just like so many people were still bullish mid 2018, so many people are now still bearish today. It takes a while to see what's going on. And yes only BTC and a handful of alts have really turned bullish recently. Give it time... the rest of the worthy alts will catch up in due time.
You actually think that if BTC is $100K, Dash would be $6 or even stay under $100? Why are you here then?