In the history of Bitcoin it was a several sharp rise and a sharp drop. So everything is possible and the history can repeat again.
Now the fall has lasted for more than a year, I do not think that it can be called abrupt. I do not remember such long falls.
The fall may last a two or three years. Last time bitcoin falled in December, 2013 from 1000$ and the price of Bitcoin started to rise at 2017. It took more then 3 years to Bitcoin to start to rise. But it rise till 20,000$. Just see the statistic of
https://coinmarketcap.com/currencies/bitcoin/You are right but to wait a 3 years it is a very long time and many crypto startups can not wait 3 years they will die for this time.