That would pretty much invalidate the huge price appreciation people say they have got in Bitcoin. Michael Saylor says bitcoin price grows at 200% annualised return. Also hashrate is at an all time high. Stock to flow is undervalued, but prices are still stagnant.
Donβt get me wrong, I understand it is not an asset that appreciates perpetually, has ups and downs. I also believe in what Bitcoin stands for and will continue to HODL my 0.7 BTC but I will have to temper my expectations for 2035.
Anybody who bought in 2017 at 20k would have made just a 50% return on their investment if it goes down to 30k.
Makes me rethink about the insane $1mn to $10mn price predictions per bitcoin if it is taking 5 years to move from 20k to 30k
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