I picked an experience with the 2017 bull and bear. After the bull then I saw a lot of sell and the reason was because of fear. Fear because price got to a level of doubt and hodlers starting pushing investment to altcoins and that drop bitcoin. Similarly, it happened this time that price hit a high and many were scared. We have bitcoin still selling above $40k because of institutional buyers.
You are right, but we are in a year in which it is very difficult to make a comparison, because for 2017 neither Elon Musk nor Paypal had talked about buying bitcoin, nor Microstrategy, the circumstances in 2017 are very different.
Sometimes the patterns in the markets tend to repeat themselves, but in this case I don't think that the price will go down like in 2017, this time the market is stronger, also if it is added that the rumors that Netflix is interested in buying Bitcoin, at the same time as Apple, and possibly Amazon, all this resonates in the ears of the people and they do not want to be left behind, nor miss movements where they can make money, currently the same social networks helped to drive the market, also some other famous stars such as O'leary from the Shark Tank show stated that he wants to invest 3% of his portfolio in Bitcoin, having said previously that "Bitcoin was like an empty giant hamburger."
If this is not a purchase notice, I do not know what else it could be, there is nothing better than buying when the rich buy, it is like going in the same direction that the minnows go with a whale.
