Liquidity is the major difference between then & now. Everyone non bitcoiner I talk to is struggling financially. The fact that we're so close to an ATH a few months after the halving just shows how stifled the 2021 high was. I think Germany was pressured by the ECB to dump their sats. They've run out & now price is recovering. Globsl liquidity is increasing again, it's only a matter of time now.