Yes, it could very well be and Bitcoin could enter a long term bear market.

I personally use this hack to protect myself doing these times: Steemit + Bitconnect, are a powerhouse, so that is where I put the little money I have.

It is sweet to get "fiat value" from Bitconnect everyday when the Bitcoin price is going down and Steem is the number one coin I believe mostly in, in today's market (atleast until EOS are ready).