I have no idea whether or not we bottomed out or not. However, even though we are in a recession, I think a decent portion of it has been kind of priced in over the past few months. I think expectations are low so all that is required is for the whales to buy or sell.
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I think you are right and, I also think that the printing of all that cash over the last couple years is going to start having an effect. the high was 67K - what is that worth in buying power today? For it to reach ATH in purchasing power, it would probably need to get to 90 :D