Everyone here thinks the "bubble" that is now popping can be understood as the 2017 run-up to ~20k. That's why everyone here keeps believing each dump brings us to at or near the bottom and are then shocked when time and time again those "bottoms" are violated. We're below the cost of mining, we're below the historical log trend, etc., etc. Every support is breaking and people here keep scratching their heads.
NEWSFLASH: What we are witnessing is in fact the catastrophic end of a macro, multi-year bullrun that started not in early 2017 but in 2008 with BTC's very creation. BTC, and crypto in general, has not seen ANY appreciable adoption and has NO relevant real-world use cases; and all price gain over the last ten years has been the result of speculative hopium, an unfounded belief that one day, maybe, these things would arrive. Well, it's now 2018 and finally, FINALLY the world has realized that they won't and never will.
Expect a return to triple digit BTC by EOY and, at some point in 2019, a return to double digit BTC. There won't be a bounce. We will never see the prices we are seeing today again, let alone a new ATH. In 10 years people won't even remember that coins like XLM, ETH, EOS, NEO, etc. ever EXISTED, and BTC will be talked about in the same way that Beanie Babies and Pets.com are now.
