Bitcoin topped out in the midst of the futures contract launches; this was a big step in the asset's maturation. There was tremendous speculation, and a sort of fear-of-missing-out trade sent prices skyrocketing too high, too quickly. The sell-off since then has wiped out most, if not all, of the over-enthusiasm.

I like to say that a bottom is a process, not a price. Now that the price and volatility have come back down to Earth, this bottoming process can begin. I see significant upside from here in the long-term.