In 2017, we did not have the capacity to sustain the bull run longer because the existing exchanges could not handle the volume of new investors trying to enter the market.
No, I disagree here. While there were delays at some exchanges, that's not the reason why the bull run didn't continue. The bull run in December had already reached the point where it got ridiculous and extremely bubblish. The famous "New Paradigm" phase
It's only natural that many people took their profits at that point.
Bitcoin was "worth" almost the same than Apple or Google. Everybody uses Google, the Apple userbase is also much, much bigger than Bitcoin's. It was ... overvalued.
I however agree that the fundamentals now are more solid than ever. With a a more mature LN, smaller payments will be possible with Bitcoin again, so the use cases will expand, and so we can expect a rise in price - but I don't expect a real bull run too soon.