On december 17 the ATH from 2017 will be half a decade ago – and right now we are below that.

When I entered this sub in early 2021 there was a nice narrative: nobody who held Bitcoin for at least 4 years was ever in the red. Even people who aped into Bitcoin at the high in 2013 have seen green since 4 years after that. After 2018, 3 years seemed enough.

Now it seems like we’re at a turning point:

(logarithmic scale)

There might be investors with bags from 2017 peak who’ve hodled through the 2018 bear market, seeing unbelievable drops and giant green candles – and yet they are in the red again after almost 5 years.

The confidence in our crypto investments might be damaged. There will be countless articles in December telling us we’re below 2017 high after 5 years.

What do you think, are you confident we’ll see gains long-term? Or did the market change so much that we must reconsider our dose of hopium?