Totally right. Waiting around for the next big price jump sets expectations so high, that it will automatically lead to disappointment.

In addition, every media station was talking about Bitcoin, not all of the coverage was good, but it was enough to make people wonder what Bitcoin is and create FOMO.

Doesn't need to be good. Trump had a really hefty media coverage in the election. Free advertisement basically.
https://www.nytimes.com/2016/03/16/upshot/measuring-donald-trumps-mammoth-advantage-in-free-media.html

After the media was through with the topic crypto, prices went back to normal. Simple as that. No free "advertising" budget of some millions, no high demand, hence low price.