Bitcoin is already mainstream (sort of) so it doesn't need hype to survive. Only altcoins need it in order to avoid getting left behind the dust. I don't think the crypto hype is over yet, since the market is still bullish. People are still pouring money like crazy on NFTs and "De-Fi" so I'd expect the hype to continue until at least half of 2022. After that, there will be a bloodbath in crypto's prices due to loss of interest.
Fortunately, the market will recover after Bitcoin's block reward halving in 2024. It's been shown from time to time that Bitcoin goes to a new ATH after each halving, reviving the hype once more. You should take advantage of the hype in order to make as much money as possible. Ultimately, it's all about providing real use cases for the mainstream world. As long as a crypto project delivers as expected, nothing else matters. Just my opinion
I agree with basically everything you have said except the bloodbath part. There was a bloodpath in bitcoin during 2014-2015 period because mt.gox turned out to be a scam and everyone lost so much money even in that days amount, when you consider it today's amount that is billions gone overnight when they officially said it (and a bit beforehand as well).Fortunately, the market will recover after Bitcoin's block reward halving in 2024. It's been shown from time to time that Bitcoin goes to a new ATH after each halving, reviving the hype once more. You should take advantage of the hype in order to make as much money as possible. Ultimately, it's all about providing real use cases for the mainstream world. As long as a crypto project delivers as expected, nothing else matters. Just my opinion
Secondly at 2017-2018 period we had all the wars between miners and Craig Wright and coming down from a big bull run it took us lower and lower because they were selling to get cash to pay for their war. Nowadays we do not have that kind of stuff, we haven't fallen too much and we recovered most of it already, I do not think that we will ever see a big bloodbath ever again. This doesn't mean that we will not see any drop at all, of course we will see a drop, but those bloodbaths were like 80%+ down and I doubt we will ever see that again. Other parts of your message are fully agreed though.