Across four major cycles since 2011, the one principle that survives every downturn is this: price discovery through volatility eventually reveals fundamental value. In 2014, Bitcoin fell 85% from peak; in 2018, 80%; in 2022, 65%. Each time, the survivors were those who understood that cycles don't break the system—they recalibrate it. The principle isn't that crashes don't happen. It's that they always resolve into new equilibrium.
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