Do you think we are going to see a huge boom market to something like 200k Bitcoin in 2021 or 2022 followed by a gigantic crash to something like 40k Bitcoin?
I think this is very much possible.
Definitely, as you have said, historically this market is a boom and bust cycle, others says that we have this kind of 4 year cycle.
This is what happened in 2013 with boom to $1000 Bitcoin followed by huge crash to $200 Bitcoin, and in 2017 boom to $20000 Bitcoin followed by huge crash to $3000 Bitcoin.
Some people speculate cycles are related to Bitcoin halvening events which happen every 4 years so it would fit the pattern of history if this is what happens.
And once Bitcoin hits ATH many people seem to get FOMO
But if you have been in the 2017 boom and 2018-2019 bear market then at least you have learn from a lot from that experience. And be prepared from such eventually of seeing another bearish trend after the bubble has been burst in 2021 or 2022.