Hash rate is still in a healthy upward trend - so these investors in new mining equipment and the upgrades of parties long in the mining business are still very Bullish on the potential of Bitcoin.
Looking at the psychology of involved parties in the Crypto space - they are unstoppable at the moment. To them its just another year in Bitcoin and in that Time frame, Bitcoin has never dropped.
Bitcoin is a new Technology - New Technology never fails in the Western world - this has been the case for 2000 years - it wont change now.
The Gutenberg Printing Press of the mid 1400s was far more frightening than Bitcoin could ever be - yet it flourished.
The matra of the West is simple - it is far better to give the masses technology than it is to give them knowledge!
A man with knowledge learns - his time is spent learning (not producing)
A man with Technology makes things, his time is spent (producing)
The Western puppet masters are not stupid.
Technology always wins in the West and thus throughout the world, eventually - Just like the Printing Press, the Airplane, the Steam ship, the phone, the Internet, AI, Bitcoin.