There is zero chance there aren't bear markets. That would be the first time in any asset or commodity or money in the history of the world. Perhaps not 80%, but there will be a deleveraging and then some somewhere.

Even those are often made worse by meddling. Sure slower and faster economic periods exist. 80% crash like clockwork isn't sustainable to build a global economy around. Yeah, you can no true Scotsman all day. At some point what we all think of as a bitcoin bear has to end or we will fail.