Looking strictly at the proportion of this bear market to others, it's clear people are way too desperate to turn this into a buying opportunity. "But... how can the Halving Cycles Theory, which has become popular now, continue to repeat if everyone knows about it?" By hiding in plain sight using narratives (recession, macro, super cycle, business cycle), strange exact timing, and prices no one would expect. Another possibility almost no one in crypto considers is... what if Bitcoin has a failed cycle? By that I mean, it doesn't make new ATHs. I do think that could happen, especially as returns continue to diminish. This could look like buying Altcoins last cycle. I do believe eventually, Bitcoin would recover, and new ATHs would resume. We've seen behavior like this from Gold after the 1980s gold rush, which preceded a 30-year bear market. Not saying that's what's coming for BTC, the cycles are much shorter. "CryptoCon.... that's way too bearish!" Maybe... but I think it's worth considering. Crypto attention has been heavily fading since 2021. There are even bigger cycles at play than Bitcoin's. Still sitting fully in cash from 112k BTC and keeping my options open.