I'm still long term bullish on bitcoin and other cryptos in general. I think that the market will overcorrect. We may be in for an extended period of no confidence as a result with so many people getting burned (some even mortgaged their homes). But because this technology is still relatively new and is following the path of the internet of the early 90's, by the early 2020's I'm expecting many advancements that will iron out the scaling issues that bitcoin has been through (Steem, Bitshares and EOS have already solved this).

I suspect that later this year, once people begin to realize that a few of these alts don't have scaling issues, they will flock to them. I think Steem will be leading the pack of alts eventually.

Some people are under the mistaken impression that there can only be one coin. I do think one of them will end up as the next Google of finance, but unlike the search engine wars of the 90's, there will still be many other useful coins for other purposes.