I remember watching bitcoin surpass spot gold around $1,200 an ounce and thinking \"wow, this thing is getting overbought, but also this milestone of surpassing the price of an ounce of gold is a big emotional threshold for people to start to pay attention to bitcoin\". It is what maintained my interest in bitcoin early on. It is also when I first learned the difference between spot prices and market capitalization. Bitcoin then proceeded to teleport to almost $20k in a matter of months and never retrace below $3k. Today spot gold just surpassed $4k an ounce, and bitcoin is hovering around $123k. The setup feels very similar. Do not underestimate bitcoin's ability to teleport to new price levels and never retrace. We were somewhat robbed of that action last cycle thanks to Tera Luna and FTX and others. It is still very possible.