Also, the chart shows Bitcoin price, which does not matter for what it is talking about. What matters is Bitcoin market cap. If only ten Bitcoins exist, a market price of $60k each is easy, or even $120k each.

Bitcoin had a market cap of $1.2 trillion in November. That becomes harder to sustain when quantitative easing is slowing, when the fed funds rate is slowly rising with indications of it rising more in this year if inflation is where it is etc.

It's the problem of all successful Ponzi schemes - eventually they grow too big and implode.