Yes, hopefully. What happen now is not far or quite like what happen last year. Before the market turns to green and make a bull run that reach the all time high value for bitcoin and other altcoins. So hopefully this year will be like what happen last year before year ends.
If tracing it back from the last year's movement then you are right mate, the market will run back before the year ends it's just another test for holders and believers to buy more coins and wait till the market turned into bull again, the recovering part will take place when only few of those weak holders expect it to happen.
When the last person who came in during the last bull run finally gives up and walk away, then shortly after we will probably see a reversal. And people who got burned will probably come back too, when the fomo becomes to big.