Michael Saylor: Bitcoin's 40%-50% Pullback is "Relatively Mild," Similar to Apple's Past Downturn

Odaily News According to a recent interview, Michael Saylor, founder of Bitcoin treasury company MicroStrategy, stated that almost all successful technology investments must endure a 45% drawdown and "cross the valley of despair." Bitcoin investors should compare the current market decline to Apple's experience in 2013, when Apple's stock price fell 45% from its peak and took seven years to fully recover its valuation. This Bitcoin pullback has lasted 137 days and could persist for two to three years, or even seven years. "If it's seven years, congratulations, you're just like Apple." However, the volatility in this cycle is relatively mild, which is related to changes in market structure. Derivative trading is migrating from offshore platforms to regulated markets in the United States, compressing two-way volatility and narrowing what could have been an 80% drawdown to a 40%-50% range. (CoinDesk)