Just to confirm, the "perpetual market" is essentially the "end of cycles" hypothesis that's currently making the rounds? Per EW theory cycles are inherent in the rhythms of man's life rather than something specific to bitcoin (or any other asset for that matter). It's only from being "man-made" and subject to man's whims that bitcoin inherits cycle behavior so how do we reconcile the end of cycles despite still existing within the realm of man's behavior?
"Perpetual" in the sense that Bitcoin has survived its first CYCLE degree bear market crash, and commences a new decade plus secular (i.e. long-term) CYCLE bull market, but continues to behave in a volatile fashion with -90% cyclical (i.e. short-term) bear markets.
Gotcha, thanks for the clarification.