Probably this is the year of correction but mind you that bitcoin and other cryptocurrency would also had a great chance to have a good market price turn back. I do not see the system will not going to survive especially that money has gone through the system and many loving to have cryptocurrency.
The period from the point of fall till the pint of recovery is always the recovery period after the recessional period is finished. For cryptocurrency, it often lasts longer but the current stability in the value of Bitcoin is good enough and shows signals for revival.