It is all relative. People who bought in 2013 will look in envy at those who bought in 2011. People who bought in 2017 will look in envy at those who bought in 2013. You may think that you bought at the top, but a few years down the line people might look at you in envy. When you have an order of magnitude price increase, it doesn't matter whether you bought at a local peak or not.
Spot on. I remember having read older threads where after MtGox's collapse, people were making fun of those who bought their coins above the $1000 mark at that point. It did drop significantly afterwards though.
However, those who kept holding through till last year, would still have made possibly the best investment of their life. It's just a matter of patience after all ~ the more patience you have, the higher the reward will be.
This market can look horribly bad in the very short term, but the long term always makes up for that what we went through in the time before that. If people till now still don't understand this market, they probably never will.