He argues that Amazon has fallen 95% in the dotcom bubble, and that the same could happen with Bitcoin.
You can not compare Bitcoin to stocks. Amazon is one of stock and it is in a different market than cryptocurrency market.
Past cycles and past bear market of Bitcoin have average -80% corrections from all time highs to bottoms of bear market. Please do your calculation for -80% from $69,000 that is an all time high in 2020-2021 bull market.
One more point, I don't say the call for $3,500 is good or bad, correct or mad. I want to say, even it happens actually, there will be two opposite sides on the market
- People who wait for it, patiently and calmly waiting for months to see its appearance and they consider it like the one and only chance to buy Bitcoin at $3,500 in 2023 or 2024. They are winners on the market.
- People who feel deeply disappointed and fearful. They will sell out and exit the market, with painful feeling and experience. They are losers on the market.
Who are you, winner or loser? Who do you want to be?