this depression may last until next year if BAKKT is not launched, since they are not yet licensed, but if BAKKT is launched and some ETF is approved, then it will be the end of that depression. Of course this is just my opinion because I am not an expert and I am not a psychic. Do not take my post as if it were a financial advice
Why do you think Bakkt or an ETF would end the bear market? Traders might pump the price a bit on regulatory approval, but the launch of these markets isn't a guarantee that lots of institutional money is waiting to invest. Institutions are also capable of shorting the regulated markets (assuming they can source the BTC or ETF shares to do so).
To jump in here, BAKKT pushed back their launch date by 6 weeks due to, as they say, high client demand. I guess they weren't ready to get going with all the demand they have. At the very least that speaks well for its effect on bitcoin, since BAKKT has to buy all the Bitcoin used in the futures trades. An ETF should have a large effect on price, especially if multiple ETFs get passed, that alone over time will likely bring in millions more people with thousands of dollars to invest. With BAKKT being the first actual Bitcoin exchange on Wall St, I think we're gonna see an ETF approval by end of 2019. Let's not forget a few other Wall St firms (fidelity, nasdaq, maybe goldman sachs) should have bitcoin services up in 2019. I don't think these things will end the bear market, I think we've reached the bottom range of the market now, I think Wall St slowly getting into Bitcoin next year is not what will end the bear market but is what will start the bull market. I don't really see any more intense panic selling happening below $3000s level, so now I think we'll see sideways trading but still with decent volatility and then those things next year will start the bull market.