Can You Answer This Billion Dollar Crypto Question?

What caused the previous bull runs? Was the 2012 bull run caused by the hype around kids dealing drugs in bitcoin to bypass the need for money laundering and taxes? Was the 2017 bull run caused by the hype of ICOs bypassing the SEC and regulations for raising money? What will cause the next bull run?

Logically you would think privacy coins would be the next hype. But if they do, they would just get removed from exchanges. Maybe compliance with regulations might be the path we're on. The next hype in cryptocurrency might be more sophisticated and outside the jurisdiction of regulations because that's what people want. So...

What other financial market could cryptocurrency disrupt?

(Thanks to Jay S. for the inspiration of this video)