I’m quite confident that the highs will return, just not in the short to medium term. I wasn’t expecting 90% drops either, if I had known that I would have sold and bought back cheaper.
The 2017 bull run happened around 12 - 18 months after the BTC halving, and similar things have happened in the past after halving. In 2017 there was a lot of activity, i.e. ICOs, BTC forks, there was a lot of liquidity due to “free BTC” from the BCH fork and potential Segwit fork that was due in Nov, but didn’t happen. There was a lot of mainsteam media reporting of the BTC price rise which informed the layman to invest into BTC and other cryptos. The FOMO principal applied in this case, and many people were even buying crypto with their credit cards and remortgaging their houses.
My theory is that the next halving will have a positive effect on the price of crypto, also if BTC ETFs get approved and there is regulation of crypto this will allow institutional investment to come in. Some big institutions are already investing in crypto, for example Yale university invested part of its endowment in crypto hedge funds, this is adding legitamacy to crypto, I think the next bull run is going to bigger than anything we’ve seen before, and my prediction is that the next peak of BTC and most of the top altcoins including XEM will be around Dec 2021. Then a bear market will follow, it’s all cyclical.
This is not investment advice.