I believe so as well with the wild card being a US and global recession. The whole crypto space hasn't been through a true economic downturn. What I try to preach is risk management. 100% BTC or 100% crypto isn't sound risk management but a lot of folks are doing just that right now. Gives me pause when I see that.
RE: Bitcoin Hits $70K(Again): Here's Why You Should Take Larry Fink's Recent Takes on Bitcoin With a Grain of Salt