There won't be a heavy crash similar to what happened before. I just don't see bitcoin dropping 80% again like it has done before. There is too much institutional money involved in crypto now.
Not just the institutions. Most of the users are now aware of the 4-year cycle. After Bitcoin hit ATH in 2013, there was a 80%-85% dip in 2015. Similarly, there was another 85% dip in 2018, after Bitcoin hit a new ATH of $20,000 on 2017. Now a lot of the users may be expecting a major correction to occur in 2021 or 2022, but very few are going to sell their coins. They know that eventually the prices are going to rebound.