A whole lot of factors triggered the bull run. We also need to recognize that there are forces at play that we might not know of or be able to quantify. Nevertheless, here is a possible list of reason that gave us a boost:
1. During 2017 we revived almost daily mainstream media coverage
2. Forbes, CNBC, Bloomberg ran several pieces about this 'new type of money' called Bitcoin. Smaller media fishes soon caught onto it.
3. Unregulated fiat gateways into the crypto market thrived till the end of 2017.
4. In April 2017, Japan and China brought into play regulation that allowed Bitcoin to be viewed in a legally favorable light.
5. Then after Bitcoin broke 2K and 5K mark, the idea that other altcoins might do the same came into being. A lot of altcoins were bought because people that they were buying the next Bitcoin.
6. A combination of all theses factors created a FOMO (Fear of missing out) and crypto was bought left and right by people who thought that they were missing out on crypto action.
Thanks for the reply.
That's a very detailed analysis. I never thought of the reasons for last year's bull run.
Thanks for sharing.