The fact that it's so similar might actually make it end up repeating itself just due to the number of traders that are looking at it. There is a real danger though because there actually is a chance that it was just a frenzy pump.

More people will buy into Bitcoin but the question is what the actual worth is for the number that want it? People always say that Bitcoin has no real worth, which is of course bullshit, but it's based on some reality. FIAT is based on countries and people have established metrics for it's value. No one has established metrics for the value of cryptos, yet. The value of BTC is based on hype and hope. Even at it's worse, it was actually better than Paypal for price when dealing with the movement of large amounts of funds, and it was faster and cheaper than a wire transfer.

All the people that bought Bitcoin when it was high and then listened to that HODL shit are probably crying right now. A lot got into crypto finally at the wrong time. Now they're holding bags that are worth less than half of what they started at. If they either actually do HODL, or trade smartly, or buy in more now that it's down, we're fine, but we might have alienated quite a few. There's a chance that it might not have a new high for a few years. Of course, I think that's a slim chance. :P

I think we're going to have a new low, then a new frenzy.