According to @CryptoMichNL, 2025 is replaying pre-crisis patterns via IPO froth, stuffing junk tranches into top-tier structures, and inflated stablecoin yield tokens, forming a broad bubble that drives near-term risk-on momentum (source: @CryptoMichNL on X, Oct 7, 2025). He outlines a path where BTC could run toward 500K, ETH to 20K, and altcoins rally 10–20x in a mania phase before a sharp, unexpected system-wide crash, drawing a parallel to The Big Short’s setup (source: @CryptoMichNL on X, Oct 7, 2025). His roadmap frames a boom-then-bust regime for crypto markets, signaling upside momentum followed by extreme drawdown risk once euphoria peaks (source: @CryptoMichNL on X, Oct 7, 2025).