I still think that current situation is mimicking what happened in 2019-2020 a.k.a this is not a total bear market based on cycle as well.
It does look like the 4 year cycle based on the calculation of days but I think there is no such thing as the 4 year cycle, I do believe that it's coincidently in par with the business cycle as well.
All the condition is similar with the 2019-2020 correction when the market is dominated by the maximum fear of the debt-crisis and de-dollarization thing (it was covid at 2019).
Back in 2019-2020, the drop was at -70% and if we marked -70% on current move since the high, it's located at $40k - $38k (in par with our worst case scenario).
But knowing that it's very fast and the size of capitalization is way higher, it can be less than -70% drop.
