When Bitcoin was $10k, it was considered overvalued.
When Bitcoin was $30k, it was considered overvalued.
When Bitcoin was $50k, it was considered overvalued.
When Bitcoin was $100k, it was considered overvalued.

So at any point, Bitcoin skeptics will always say it's "overvalued".

But look, your claim that Bitcoin will drop 90% before it reaches $1M is simply delusional. Even though we've experienced more severe market conditions before, Bitcoin's price hasn't plummeted 90%. That's essentially an exaggerated assumption that doesn't take into account the current market reality.

While there's potential for a Bitcoin bear market, it won't be that severe. Let's just be more realistic and avoid spreading FUD.