Yes, that's what I learned from last cycle. Too many people are stuck in "bUt yOu sAiD 100k". It's not about the exact levels. S2F model is very rough. We can only hope to be order of magnitude right .. which we are IMO, with current $32k average versus S2F-model $55k. And mind you that that $55k was made when BTC was sub $4k and everybody was expecting miner death spiral and sub $1k BTC!
I still stand by my Jan 12 #Bitcoin view:
- Nov 2022 $15.5K was the bottom (50% disagreed!)
- Rise into 2024 halving (from $18K on Jan 12)
- Next: halving price above $32K