I think that China and India have a lot of unwinding and settling to do before we hit a real bottom. Regulation is coming and the uncertainty is still there when it comes to the role of government.
I'd feel better about BTC and ETH if they would just spread out the hashing power. A majority of hashing power for both countries resides in a few large pools and they are in just a couple countries.
The hashing power is the network for proof of work coins like Bitcoin and ETH, so I think it's a bit unnerving for holders to know that the network could be significantly hindered by one or two countries.
Until that is resolved, going back up will be slow going.