Let me get this straight. If you bought the bitcoin pico-bottom in 2022 at $15k and HODL’d for 3 years, then sold at $95k: 1. $80k capital gain = $68k net of 15% capital gains taxes. 2. $68k net gain + $15k initial investment = $83k total retained. So in order to “profit” on this trade in BTC terms, you’d need to sell at $95k and buy back sub-$83k? Obviously it’s a bit better if you sold the pico-top (sale at $126k = $111k capital gain, which is $94k net of taxes, which is $109k total retained after adding the initial investment back). But this example requires buying the pico bottom and then selling the pico top. But if you waited until the $95k “line in the sand,” you’re now in danger of trading for less sats due to being impatient for ~60 days? Do I have this right, @CalebFranzen , @OnChainCollege , @_Checkmatey_ ?

Which is why Realised Profit is falling off a cliff. Remember, a lot of sellers came from earlier cycles, and even more, are just pure fiat maximalists.