Michael Saylor: A 40%-50% pullback in Bitcoin is "relatively moderate," similar to the low period Apple Inc. once experienced

Odaily Planet Daily reports that Michael Saylor, founder of Bitcoin Treasury Company Strategy, recently stated in an interview that almost all successful tech investments must endure a 45% drawdown and “cross the valley of despair.” Bitcoin investors should compare the current market decline to 2013, when Apple’s stock price fell 45% from its peak, and it took seven years to fully recover its valuation. The current Bitcoin pullback has lasted 137 days and could continue for two to three years, or even seven years. “If it’s seven years, congratulations, just like Apple,” he said. However, this cycle’s volatility is relatively mild, related to changes in market structure. Derivatives trading is shifting from offshore platforms to regulated U.S. markets, compressing two-way volatility and narrowing what could have been an 80% decline to a 40%–50% range. (CoinDesk)