PANews reported on April 30th that, according to Delphi Digital analysis, the five-year holding period return for Bitcoin, calculated based on the worst entry point, is only -13%. Analysts backtested all possible five-year holding periods since May 2016, showing that Ethereum and Solana did not experience any negative return windows, while Bitcoin only had 11. The worst-case scenario occurred when buying on December 16, 2017 (near the top of the previous cycle) and selling five years later near the cycle low in 2022, resulting in a return of approximately -13%. The median five-year holding period return for Bitcoin is over 8x, and for Ethereum, it's nearly 13x. Nvidia's approximately 14x return over the past five years is often used to compare crypto assets, but this only represents the upper-middle level of historical five-year returns for Bitcoin and Ethereum. Bearish arguments rely on using the worst-case window as a benchmark, while data shows that, over a longer time horizon, mainstream crypto assets have achieved positive returns at the vast majority of entry points.