Yep exactly. A much more accurate description would be that there are boom and bust cycles with the context of broader adoption as a new industry and asset class matures. Higher highs and higher lows along the way.
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For me the most annoying part is the timeline. If you look at to Dot Com bubble in that chart there would have been 3 Bitcoin bubbles during that time... lol. Literally would have gone x1000 even after crashing 3 times.
Also, the dotcom bubble didn't have massive money printing programs going on and it wasn't global. Bitcoin is global (can be bought in just about every country) and the money supply globally is increasing by tens of trillions of dollars.