There is an japanese art of achieving perfection thru imperfection, Kintsugi. The current crypto market as per my comprehension resembles the same pattern. It will break down to a level from which it can arise, mending its mistakes in the process (weeding out all fake/scam ICOs) so that in the end only the best implementation of technology persists for longer period of time

This is true. correction in the price will make bitcoin better and there will be true rise in the price.