For bitcoin yes its only temporary, looking back how the btc progress this year we can say even the price plunge to $8k-$9k its still good enough since we started at $3k in the first quarter thus dont think this downtrend as negative.

For altcoins unfortunately some of these coins will remain in their current status so it might not temporary, if they cant manage to increase then it will stay at the bottom unless there's a big news that can affect their price.