Because in July 2013, the total market cap of all Bitcoins was less than one billion dollars. One year ago, the market cap of all Bitcoins was over one trillion dollars. That's why we don't consider previous wipeouts.

I can say some trash in a garbage can is worth not $70k, but $75k. I can even make good on that, and more than once. I may even find another sucker, or suckers who will pay this much for trash as well. Eventually this Ponzi scheme, like all Ponzi schemes, will blow up. With the stock market down, and interest rates hiked, it's hard to find people who want to put a lot of money into RTX and Dogecoin.