When there are market downturns, and in bear markets like this one, the community repeats the mantra that 1BTC is 1BTC as a consolation.
the first problem is not the end of the sentence. but the first part. and also this part
If it is a currency, the purchasing power has been reduced by 70% or more
by this i mean. you are assuming and taking judgement of the value of bitcoin to have been worth/valued and in your eyes that it should have stayed at $70k where by the change to $20k was the unexpected, death nail.
with words like reduced, downturn, crash, drop. decline
what you need to understand is that the $70k price point was not where value was, it was not meant to sustain. it was not meant to be the purchasing power.
the $70k was the premium, the temporary bubble event . a price that exceeded expectations and was the exception
bitcoin is now back at good value rate. back in the realm of good pricing.
..
once you can flip your mindset into the notion that low=value and high=premium.
then you see that different mindset at play. where by getting 17,000 loaves of bread was the minimum wage. and the 69,000 was the lucky special christmas bonus. rather than the other way round
its not the case of 69,000 loaves was the minimum wage everyone expects to get and then the 20,000 loaves is the below poverty killer income that causes people to starve and die