October 2018 ICOs have failed, most of the ALTs are below their ICO price. That means, Now there are less Fool and people have started understanding the concept. no more Sheeps to slaughter ... Much harder to manipulate price (or atleast people are aware of it.
So, Where will the bull run come from?
As an example, Think like --- Lots of people were hodling when Bitcoin touched 20K.... But now repent doing so... 100% if Bitcoin price surges to even 9000$, they will dump knowing there will be again a correction.
This is what I analysed logically. I may be wrong. I hope I am wrong.
You're pretty spot on. It's a rarity for a market to have a bull run and blow off top, followed by another bull run shortly after. That would be too easy. We have many resistance levels to work through as broke investors exit the market to lick their wounds. Markets don't reward people who buy into blow off tops. People who fomo get punished, and damn right! That's why traders can make money.
Price tends to move in the direction of maximum pain (where the most traders will lose the most money). In the short term, I believe max pain is upwards. The bearish sentiment has caused a lot of unsuccessful bottom shorting. Those shorters need to be punished. But regarding the bigger picture, I agree. No bull runs for the foreseeable future. Lots of distribution to work through.