Agreed, it is the beginning, but it started 5 years ago, and this is the forth cycle in five years (the coinmarketcap charts don't show the full five year chart, but other charts do). Each cycle starts flat before skyrocketing upwards, before hitting an all time high. Then it usually drops over the course of a couple months and declines by about 50% of its all time high. Then the market flattens out for anywhere from a few months to two years. Then we repeat the cycle, but the all time high is usually much higher than the previous peak.
Keep in mind though, this latest cycle is different - we have many more exchanges, they seem to be more reliable (safer, maybe still not as reliable as we would like, take coinbase's latest mishap). Digital currency is also receiving tons more coverage than ever before (Fidelity is adding digital currency to customer bank account info so that you can view your currencies within your Fidelity account. Hell, even Goldman Sacks now has coverage on Bitcoin. Bitcoin is legal currency in several Countries around the world, including Japan). So, the atmosphere is much different this time around. Last time, it took two years for the bull run to start. We may be in a bear market for a few months, but I don't think it will last too long at all. Only time will tell.