When a bubble pops, it pops all the way. We're seeing that with housing right now - whether the government spends $1 or $10 trillion, it doesn't matter - housing indexes will reach the level of the 1960s, whether that happens in 2015 or in 2040. You can't stop the inevitable trough of the wave. Japan's real estate bubble took two decades to fully deleverage, and it's smaller than the U.S. real estate bubble. The same thing happens with markets as well - we saw it (at least most of the people on the forums hopefully remembers) with the dot com crash - companies without any revenue stream being valued in the billions disappeared overnight - only later in the mid 2000's did tech reach proper valuations. Ultimately, the bubble collapse, or correction, helps establish the true valuation of an asset. Bitcoin's underlying worth is basically zero due to its uselessness, lack of implementation, and inherent self-limitations. $.25 is a maximum estimate for a bottom.
This is a bad analogy. Housing is a product wherein the utility is well known -- houses are homes for living in. People hardly ever buy them for any other purpose (other than to resell).
The dot.com "bubble" is a bit different, but more similar to this bad housing analogy than to Bitcoin. People knew what websites were for and what their purposes were and to a large extent, what the purposes would be. The main problem with the dot.com "bubble burst" was that tech wasn't advanced far enough to facilitate websites to fruitfully fulfill all the purposes they were intended to fulfill until recently.
Everybody that embraced the WWW in its early years assumed that just having something out on the Web meant it was going to get a lot of attention -- they overestimated the capacity of the technology at that time, and in a similar vein, Bitcoin still has alot of work to be done for sure.
Housing never had any other purpose to fulfill, and that's why the housing market IS a speculative bubble.
Bitcoin is way different that the housing bubble, and pretty different from the "dot.com" thing too -- it is an entirely new thing, built around an entirely novel concept. There's no telling what might be done with it at this point -- anyone calling bitcoin dead at this point is likely going to end up looking extremely foolish in retrospect.