Previous year also we faced a good bull run with out ETF. ETF not related to bull run. but panic people there so if ETF rejects by the sec or postponed they sell their portfolio for even loss.
So i believe normal market circle and bull run can be expected in next months.
what about your opinions ?
As you said 2017 Bull Run is just happen without the ETF, so it is possible also that with or without ETF the Bull run will happen again! But in my deep insight about the current "Market Condition" the Bull run has very small chance to happen again this year. Since the old and new investors are affected by the recent events and they are cautious now. FUD and Negative news is the main reason why this kind of market condition still remain this particular period of the Year! we can expect more Bearish Market up to the last quarter that's only my opinion and I'm not and Expert regarding this field.