I suspect that while adoption metrics continue to show very high growth (exchange user numbers, volume, wallet growth etc) it will continue to maintain a strong medium term bull-market, although in terms of market cap 99% of the % gains have already arrived. Last year we had over 5000% growth across the board and many coins going up over 10000%, this year the market would be lucky to do 400%. In terms of what its actually worth as an alternative asset class based on utility referring to comparative analysis of the financial instruments it potentially disrupts, coins that focus on currency and a store of value specifically probably have 5-6x before they're approaching full value in the medium term. A lot of external potential in disruption from the blockchain in individual use cases that are likely to have massive growth into the future but the market as a whole is getting closer to its endgame for the time being until in the longer term issues in the real economy cause an incentive to seek them as a genuine fiat replacement. I don't see that happening for at least 15-20 years however.
These peaks and collapses are a feature of parabolic market growth, if it's growing parabolically the short term crashes to the same extent are to be expected. Simply put I think it won't begin to hit serious roadblocks for growth until the market is up to around the 3 trillion mark (which could happen in 12-18 months), currently at about 500b. At around 2-2.5t I think it would be wise to cash out a significant amount, say 50% as the risk/reward benefits over other asset classes diminishes over time as the market cap gets too high.
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