Base case is we're about to bounce big time because we never really had a bull market from the last ATH, especially when adjusted for inflation and especially when compared to gold.
And the real rea...
in my opinion these multiple forces will tend to balance somewhat; I think we have already touched the bottom, but I think we will not see a new ATH for bit... but future is really unpredictable, so I will not be surprised if the exact opposite would happen.