How often do you see this sentence posted all over youtube and other social media with people claiming to be experts and analysts claiming that we need another leg down to start a recovery, or to end a bear market, or to reverse the trend?
I remember seeing this in 2019 when we were sitting at 3k where people, including well known figures like Tone Vays saying that we'll have another leg down to the previous all time high of 1k USD.
I watch youtubers from time to time and the majority thinks we'll either go to the 200 week MA at 2k USD, or touch the old ATH at 20k because some "old pattern" has to repeat.
Personally, I find this stupid. They're looking for similarities in the corrective move, ignoring the fact that there weren't many similarities in previous bull runs and this one, starting with the fact that in 2013 btc went 10x, in 2017 and early 2018 it went up 20x and this time in it's worst performing bull market in history, it only made 3.5x.
Their defense is that they're trying to make people aware of what can happen, but they're actually getting lost in the same pattern that last year, in the bull market, made them believe that Bitcoin has to reach between 80k and 100k, with some claiming 150k would be the top.
What do you think? Is "another leg down" starting to get old?