In march 2020 it dipped as low as 4k[0] and nobody batted an eye. I thought if it stayed there for long enough it'd finally burst, but then the prices soared up to 70k.

I'm surprised everyone's acting like it hadn't been down below 20k since 2017. Sure, it wasn't for long, but it did happen in 2020.

[0] Before posting I looked it up and what I'm finding is a lowest in 2020 of $4,861.32 for March 12th. I vaguely remember lower numbers, but this is aggregated data, so it might've been lower during the day but that was the closing price or the mean or something. I'm still sticking with the 4k number for quick reference, though you can take it as 5k if you want -- it's still a lot lower than the 20k that's making the news currently.