We are below 2017 ATH if you factor in inflation we're meant to be a hedge against

The ATH back in 2017 was around $20'000 or $19'828 if you're going off Tradingview charts.

In the last six years however the US has seen a rise in core inflation of around 14.74% since we reached the 20k peak, (or to put it more simply $1 today was worth $1.15 back in 2017 when we reached our previous ATH.

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If we go ahead and look at the numbers a BTC today is trading for $20'577, but if we just apply the inflation rate we see that a BTC today valued in 2017 dollars would have been worth $17'893.

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Obviously the groupthink of TA in the past for Bitcoin is that we don't go below a previous ATH, and I understand why people will consider this as disingenuous since you can rightfully argue that we haven't yet fallen below the last market cycle's ATH, but it's important to realise a lot of people thought of Bitcoin as a hedge against inflation, and while there is a future i'm sure, drawing these lines in the sand over such an insanely volatile asset and marrying the idea we can't go below them won't do you any favours.