It's easy to write off the people saying we haven't had the "real" bull yet as idiots. Just point to BTC being up 8x and laugh at them.

But for the first time ever we've had a BTC run without some of the major coincident factors that have ALWAYS been a part of BTC bull cycles.

It's prudent to at least acknowledge this, ask why and ask how you believe this may affect future outcomes. It's a fact that some very significant things were different during this BTC up cycle, so I implore you to consider how they might be different in a down cycle or if we're even in a down cycle as we know them.