There is so much possible on the upper side of bitcoin price in 2017, I have no clue where we are heading.
Up of course. Especially when the ETF gets approved. It will get covered by the mainstream media basically everywhere in the world. It's positive news that people will see, instead of the negativity that media channels usually tend to spread when it comes to Bitcoin.
the high transaction fees
Just adapt to the situation by including proper fees, and you won't notice much of a problem.
the slowed down transaction times
Transaction times are near-instant. I assume you refer to the confirmation times that may take longer than usual to come through, because people stick to the low fees they have been using since way back. Again, just adapt to the situation by including proper fees.
the increasing competition of altcoins.
This has only effect on altcoins "battling" against each other, and not on Bitcoin itself.
But if everything goes not in favour of bitcoin, I still don't think we will fall far beyond the 900$ level.
At this point only a fake hack (i.e. inside job) of an exchange can get the price to sink that deep.
