Second Step: To get the color back there is a really simple solution, just ad a Level adjustment layer and reverse the tone levels. This reverses the appearance of the negative image and turns it back to a color image. Third step: Now make a duplicate of the negative color image and do a Hue/Saturation correction by moving the saturation slider fully to the left -100. Fourth step: Now change the negative black and white layer to multiply mode to get the black and white overlay effect. Fifth step: To get a stronger bleach bypass effect is the unusual use of a filter, the unsharp mask. To be able to make changes after the filter convert the black and white negative layer into an Smart Object. Then goto filters and select under Sharpen the Unsharp Mask filter. Set the size to about 200 and the radius to about 250. Sixth step: The image is still a little bit to saturated. To change the saturation of the image add a Hue/Saturation correction layer as cut mask over the color negative layer. Then adjust the saturation slider a little bit to the left. This step i depending on the overall colorization of the image. In my case -27 for the saturation seams ok. Seventh step: Now we are facing the problem of the blown out white parts of the image. But this is really easy to solve. Lower the opacity of the black and white layer to a value where the detail just coming back. Final but optional step: Optionally for the final touch you can add a little bit of grain to simulate the appearance of old color film. Just select the black and white negative layer and go to filter then select Filter Gallery and in the Filter Gallery select Texture and in the Texture section select Grain. Set the intensity to something around 50. And finally here is the final image. Digital image with a real cool bleach bypass effect. Now its up to you. With effects like the bleach bypass you can give not so fancy images a touch so that the image is worth to have a look on.