Joe Burnett, MSBA|7月 23, 2026 13:28
Bitcoin's return from each bear market bottom to the next cycle top:
2011 → 2013: ~581x
2015 → 2017: ~129x
2018 → 2021: ~22.1x
2022 → 2025: ~8.1x
Volatility is the price of extreme returns.
5x from $58k → $290k
10x from $58k → $580k
20x from $58k → $1.16M(Joe Burnett, MSBA)
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