The short-term rebound on February 19, saw Bitcoin surge to the $4,000 price level, leaving several cryptocurrency investors hooked and some analysts keeping their attitude inert. Bitcoin could “melt our faces off” in the long run with an amazing rebound.
While the last cycle gave back around 16x, as Bitcoin swung from $1,200 to $20,000, the next trend could likely bring much higher returns. According to Survivalism, a financial revolution prepper, a pump to around $750,000 seems to be irrational.
We're already seeing some FOMO in the market because people have simply gone for so long without any sort of real upwards action.
I disagree with the fact that this is the start of a bull market. I personally think that markets will continue to move mostly sideways rather than heading in any one particular direction, at least for the next few months given the bearish sentiment still present.
I also don't think that this upcoming bull market will bring about higher returns - it's very difficult to see that happening given now bitcoin's market cap is several times bigger, and markets have matured significantly. I think that FOMO buying in an overheated market will certainly cause people to buy irrationally, but most likely, not to the extent of the last bull market.