What's there to rejoice about? What about those who invested when Bitcoin was at 19000$ in 2017? It's not time to start rejoicing yet, right now we need better an stronger market support, DeFi success I believe is at work here, new money flow into crypto through DeFi, I'm hoping more will come
I will assume that those who have invested when the price is at all time high have exiting already in 2018 and accept the fact that they have been REKT. And I'm sure they've learned their lessons because we are already in the bubble that time and most of the are noobs, irrational buyers who think that the price will go on parabolic rise.
Price sits around $11,200 already, so it's normal for investors to rejoice somewhat as in the last 5 months, we have seen the price going as low as $3800 and calling that bitcoin is going to crashed. But look at how it quickly bounce.
But I do agree that DeFi really brought tons of money in the market, MakerDao alone becomes the first DeFi protocol to hit a astonishing $1 billion in total locked funds.
https://www.theblockcrypto.com/linked/72959/makerdao-becomes-first-defi-protocol-to-hit-1-billion-in-total-value-locked