it kind of depends on what 2017 turns into. it might haul bitcoin to a higher level in terms of awareness and usage and stay there in which case i don't think there can be despair like 2014 again. it'll fall back of course but there might be more people involved with more going on.
if the present action ultimately turns out to be a totally empty pump and dump then yeah there's more despair to come, maybe even more.
My friends are not calling me re bitcoin yet...they might if/when we pass $1000 (currently $981.77, LOL).
It is not the actual price that excites bitcoin newbs, it is the rate of change.
People did ask when it went from $430 to $750 very rapidly.