Is the recent drop in Bitcoin and Crypto price's a repeat of last summer or just a fake out?

I remember last summer my hopes were high that we were on our way to all time highs. As the fall and winter rolled around, those hopes were quickly dashed. Bitcoin fell from a high of around $13,400 in the summer to around $6,500 by end of year. Watching all of my gains evaporate in that time frame was pretty painful, seeing I did the ride to the bottom, rather than setting any stop losses. Nevertheless, a lot was learned from that time period.

With that being said, over the last few days we have seen a significant amount of pullback in the crypto market, with about 30 Billion dollars disappearing from the overall market capitalization in the matter of 48 hours. Though I was not as detailed in the management of my portfolio in 2019 as I am now, I know that in the 2017 bull run we experience a significant pull back in the summer of 2017, followed by parabolic gains in the fall and winter of 2017.

I remember EOS went from being worth $3.50 during the early summer of 2017, then dumping to .50 then mooing to over $14.00 in the span of a couple months. So what is the takeaway here? Obviously both runs started off with some relatively rewarding gains in the first 7 months of the year. In 2017, after a month or so of dumping ( between August and September), eventually things exploded in the following months, eventually coming to a climax in late December 2017.

In August 2019, things peaked in the summer, then slowly bled away over the following 4 months. So with this being said, what indicators should you be looking for to indicate if we are in a 2017 type run or a 2019 type run?

1- If the market dumps 20-40 percent in the next 3 weeks, chances are we are in store for significant retrace, followed by parabolic moves to the upside.

2- If the market become less volatile and the decline in the overall market cap drops slowly - less than 15% over the course of the following month, chances are we are in another 2019 type phase.

3- If daily volume starts to fall off by more than 15 percent - while still maintaining the same overall market cap, this may be another indicator that we are in another 2017 type cycle. Furthermore, this is just an indication that the institutional investors are planning their exit strategy.

In summation, volatility and volume are our friends. If we have no friends, we have no bull-run.

Thanks for reading.