Time to wake you up and always keep everyone in check here to avoid irrational euphoria.
Let me explain to you why.
what does that mean: well, it simply means that the people who purchased at around 20k just kept holding and ADOPTION went lower and lower.
Which basically means that the 50-60k levers increase was only and utterly: leveraged euphoria.
and what happens when you no longer have buyers in the market? (refer to my cig story)
the market will simply capitulate and crash.
which simply means:
There are no buyers in the market as much anymore as adoption is slowing, and the increase is basically leveraged euphoria.
How to avoid this:
-Understand that the current price is increasing due to borrowing and leverage and not adoption which confirms the final cycle of the bull market.