Back makes perfect sense; a 26% correction is just a normal move within historical cycles, and institutions are still in the accumulation phase.

Back points out that Bitcoin volatility is a long-term cyclical characteristic, repeating multiple times over the past four years, and does not equate to a fundamental collapse. Despite more favorable policies and the launch of spot ETFs, Bitcoin has still fallen about 26% in the past year, while gold and silver have risen. Institutional participation is still in the early stages, and as adoption increases, volatility is expected to decrease. Its long-term potential remains optimistic, with a market value far below gold, leaving significant room for future expansion.