Bear markets are long. I thought it was possible to have a small bear market, as we have a bull trend still alive, but it seems I was wrong. Bear markets are always long, a true crypto winter.
This bear market can go as long as 18 months, and the price can plunge as low as $800.
Always?
What about early 2012, after the run-up from $2 to $7.50? That correction lasted ~4 months. In mid-2012, after the spike to $16, the correction lasted ~3 months. After the April 2013 bubble, we bottomed in early July, ~3 months later.
There are no historical parallels to 2014. It's in a league of its own regarding time.
One thing to keep in mind is that we've never had a bull market as long as the 2016-2017 run. The cycles probably take much longer than in previous years. So even if this is more like 2012 or 2013, it could take a year or more to play out.