Well, anyway, seems like the recurring pattern will repeat again soon, encouraged by the halving.
Bitcoin has multiplied before and there is some chance it will again. Let us assume a 20% chance.
If it multiplies in the next few years, let us assume it will multiply by 2-10x. On average maybe 5x.
If it crashes, let us assume we cut our losses after a 50% loss.
If we risk 10k, then the math is:
80% * (-$5,000) + 20% * ($40,000) = +4,000
So even though you lose most of the time, if you win, and if you believe you will win big, the math is favorable, so long as you are betting money you don't mind losing.