/biz/ - Business & Finance

Why are recoveries from bear markets always so fast? I would think any kind of market "correction" would go like:
>market pumps up ~1% per month
>market becomes overvalued
>market dumps 20%
>market resumes pumping ~1% per month

Instead what happens is
>market pumps up ~1% per month
>market becomes overvalued
>market dumps 20%
>market then pumps 2% a day for 5 weeks straight and returns to overvalued territory

>>49814386
This topic is beside the point, but still interesting and true. Crypto has not "created" one single millionaire, ever, because Bitcoin has never created any value. It's truly been a zero sum game. For every crypto millionaire, there are people who put a million into the ponzi scheme.