Do you mean the final graph? The black line shows the mean of previous crashes, not 2020; I’m just superimposing 2020 dates on this to show how prices historically continued to rise from this point and so might do so this time.
(The fact that prices have already recovered in 2020 may seem like a sign of ‘returning to normal’, but according to the EMH prices have no memory so it shouldn’t reduce the chance of them continuing to rise.)
Do you mean the final graph? The black line shows the mean of previous crashes, not 2020; I’m just superimposing 2020 dates on this to show how prices historically continued to rise from this point and so might do so this time.
(The fact that prices have already recovered in 2020 may seem like a sign of ‘returning to normal’, but according to the EMH prices have no memory so it shouldn’t reduce the chance of them continuing to rise.)
I’ve reworded the post to clarify.