Personally I'm of the belief that the bull market did happen. It just happened for paper Bitcoin instead of actual corn thus no major bull in price. I don't buy for a minute that these entities actually bought the Bitcoin that was supposed to have been acquired at the time and are playing games to acquire in the bear.
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Look at the price of bitcoin with CPI removed, or another means of peeling inflation off of the price. This will show that we haven’t really broken the 2021 all time high with any authority.