which is why you shouldn't be selling in the $19000s either!
It depends on the event and the time frame. It was clear that the futures markets were the driving force behind the bull run of last year, and it's just as clear that traders like to sell news when possible, and it happened.
Another thing, which mainly applies to Bitcoin, is that it tends to correct significantly at the start of each new year. That was again a signal that people should have cashed out their profits.
Don't know how relevant tax sales really are when it comes to the crypto market in general, but that's potentially another aspect to focus on. It's sell signal on top of another signal on top of another signal.
There is a lot of difference between the current situation of the market and the previous one. Bull run is not possible without any investment. Many of the holders want to sell their coins but there are no buyers in the market. In this situation we can easily understand that if there is any bull run in the market it would be temporary and will return afterwards.