Frankly, market deserves cleaning long time ago. We have so many alts with similar ideas, so I am not worried of some of them dies completely.
I've noticed many starts talking about recover. I do see any recovery right now; we are trampling around the same. Yesterdays growth is completely countered by drop at night. I expect Bitcoin to be around $19-21k for next week or two, and then go lower, lets say to $18k. We will be on that level for some time, and than go deeper. World economy still in huge trouble to speak about any kind of recovery imo.
Yeah the last proper purge was 2019/20. Don't think it got much cleaner than then, but then it all got smelly and dirty again the moment defi and nft bullcrap reared their heads again. You know, ICO guys dusting themselves off for another round of ponzi-farming.
We're seeing nonsense nft gaming and metaverse (their themes, not mine) tokens down 90% from November already, but that still needs to pull in the last remaining bit of dumb money, get a few flashes up and then die their natural deaths.
I like the romantic decoupling notion too but as I always insist, based just on myself and others living actual lives, when you gotta put food on the table and that food costs more than what you earn, you sell Bitcoin. It's not like we want to, you have to. Worst case, pause DCA. Either way, people are going to be forced to contribute to selling pressure or removing demand until their personal finances settle.