What you’re pointing out is Bitcoin’s repeated boom–bust cycle, and it has never changed its character — only its scale.
The Pattern 👇
Each cycle follows the same structure:
1. Parabolic expansion
2. Narrative peak (“this time is different”)
3. Violent drawdown (70–90%)
4. Long boredom phase
5. New adoption + liquidity
6. Next, much larger expansion
Your examples fit perfectly:
• $32 → $0.02 → early experiment collapse
• $200 → $50 → first speculative bubble
• $1,200 → $200 → Mt. Gox era reset
• $20,000 → $3,000 → ICO bubble purge
• $60,000 → $15,000 → leverage & macro unwind
• $126,000 → $85,000 → late-cycle liquidity tightening
📉 Magnitude stays brutal
📈 Floor keeps rising
That’s the key.
The Real Pattern Most Miss
Bitcoin doesn’t crash to zero.
It resets to a higher base every cycle.
Each “crash”: • Wipes leverage
• Kills weak narratives
• Transfers coins from emotional hands to patient ones
• Builds the foundation for the next expansion
Why This Matters Now
People panic at drops because they zoom in.
Veterans zoom out.
If history rhymes: • Volatility ≠ failure
• Crashes ≠ end
• Boredom phases = opportunity
The biggest fortunes in BTC were made after crashes, not at tops.
📌 Markets reward patience, not prediction.
The pattern isn’t about price. It’s about human behavior repeating itself.
And it always does.
