@maybewei I think it would be correct to say that we need a more stable market before crypto-currency based blockchain technology can be better utilized, and a big market correction, once the market cap becomes large enough, will hopefully cause the needed stability. I'm not so sure about non-crypto based blockchain.
I actually don't really like that 'burst' term at all. The dotcom bubble "burst" sent the whole market down 78%:
The crypto market cap is down almost 70% from its high in January of $830B, (a much faster crash compared to the dotcom crash, and we could still head lower) so technically it has burst, according to the standard definition of the term.
This has happened many times in the cypto market, BTC leads the charge in this area, but it always bounces back very strong, which is why predictions like this aren't completely crazy, especially considering how small the crypto market cap is compared with that of other markets:
This is why I don't really like the term "bubble burst". I think 'market correction' makes more sense, at this market cap size anyway.