So you are saying that we will be in a long term downtrend till say 2019 or even 2020? Cause thats what I am seeing.
That is a likely possibility because as the massive correction occurs, the FUD will increase. The "Bitcoin is a bubble" crowd will be "correct", or at least it will look like they were correct to most people that are not enlightened (which is practically almost everyone... this forum being the 1% exception).
With each hype wave, Bitcoin grows its brand and userbase exponentially. Therefore, it is hard to call the top. We could go to $100k in 2018 without a correction. I feel quite certain a large correction will happen in less than a year from now. Much much quicker if the price keeps quickly going parabolic.
Last time it took 3 years for the market to rebound. Next go around it will take less, because there are more people chomping at the bit to get in, but are scared to do so at the current value. I expect at most a year or two bear market. Possibly less...