There are multiple scenarios for BTC. We will soon see which theory holds:
1. 4 years' cycle theory (rejected?)
2. Extended cycle theory with diminihsing returns
or new idea
3. Interseason model where the only thing that matters are the lower lows during inbetween seasons and not bull runs and ATHs: bull runs become less influential against the bear runs as increasingly number of people can not afford to own 1 BTC, a phycholocial level to maintain the bull runs, which is not possible when/if BTC is making new ATHs