Something like that, except you can view the cycle that began in '17 as the final 5th leg of a much larger 5 wave cycle that began at Bitcoin's inception. In essence, the cycle that began in '17 is the tail end of a larger secular bull cycle on crypto that began in '09. This 16+ year cycle is a cycle of the highest degree, similar to the bull market we've had on trad equities that began after the housing crash in 2008. Yes, despite the multiple 80+% crashes on Bitcoin since inception it has still all been in the context of a larger secular bull cycle of the highest degree. The current rally on $BTC that should take us to new ATH and ultimately a blow off top will be the finale of this nearly two decade long cycle, and what follows will be the largest, most brutal bear market we have ever seen- Bitcoin's first secular bear market of the highest degree, akin to the .com crash that preceded our near multi-decade secular bull run on trad equities (that is also approaching a climax as well).