I come to think that we can't fall massively below 5,000 dollars per BTC - if ever - unless some major whale - of the Mt. Gox trustee's scale - decides to cash out. I base my assumption on the premise that people who bought coins at high prices like over $12-$15k won't be selling at prices below some psychological limit because selling at such prices will be pointless and their only viable option will be to continue holding. So it is not just about demand building up, it is also as much about supply running dry at lower prices. That could potentially lead to less volatility, at least temporarily until a new long-term trend gets established.
of course people who buy for $ 12000 - $ 15000 will not sell in situations like this, they will tend to hold it. how much would they lose if they sold it? very much, but I do not think prices will continue to fall any further. the price will begin to grow slowly although still in the shadow with a very strong fluctuations.