What makes me quite confident for this 2020 bull run is that a significant amount of money are actually from institutional investors, and it's pretty safe to assume that they're far far less easily affected by beginner investor emotions like FOMO and panic selling.
This doesn't mean that they won't sell if the market will be crashing, if anything, it's the retail investors who are likely to hodl forever, no matter what. Yes, institutional investors won't be selling at the bottom, most of them would probably sell long before that happens.
The big crash will come, that's 100% sure, because Bitcoin's volatility is still here with no signs of it going away, it's just a matter of where it will crash - at $20k or $50k or $200k.