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A dip to 40k or even lower is totally fine as long as we get the next leg of the bull market!
Could we slide from here? That would take a lot, essentially a global, deep depression where most people more or less walk away from tech... Which could even be a great thing haha!
For me as a Rebel Nomad it would be tough if the rest of this bull market gets cancelled, but if so I'd put even more energy into actually getting a viable revenue stream going in 100% uncensorable and unstoppable ways :-)