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Wrong! The 2017 price pump was mostly due to the ICO boom that was happening back then. When large social media companies started to ban Crypto currencies, the price took a 80%+ price nose dive and things has not changed since then.
I have another perspective about BTC price in 2017, not because ICO mostly because the same pattern after halving, BTC price will reach another ATH.
Rate cuts from FED, AU and Europe will affect another investment instruments, which they consider to be safer from price changes that are too fast, and they usually make more investments to secure their assets from impairment, as is usually the case when there is interest rates cut there are indications that the country is experiencing or will experience an economic recession.