I don't believe it will happen this year because of the propped-up dollar and the currency swaps going on with China to help them manipulate their own currency. These are essentially "lock-up" periods that government agree to reserve each other's currencies, thus keeping them propped.
Also, you have to take into account taxes. No one wants to pay taxes on capital gains made this year (if anyone can due to losses) so this is a classic government block so that they can continue to kick the fiat can down the road long enough to brace for mass crypto adoption impact.