I believe what drives this current crypto market is different from that of 2017, 2017 was about whales getting their hands on whatever and predicting/pushing prices up. This time around a lot of players are in the market, it is difficult to tell.
There is some sense in your statement, 2017 bull run was mainly due to hype from various influencers and whales doing their thing. This year, so many adoptions and mainstream news. From Facebook's Libra to PayPal adding crypto just to mention a few. I believe there will be correction which is happening already since the festive season is already here, many people need cash to spend. I think for now the market uptrend is on halt, maybe after this festive season the uptrend might commence.