It could be. We never know when price will rise, we never know when it will fall. With the 'hacks' like the Bitfinex one from a few days ago, I'd say THIS is the perfect moment to buy a lot of BTC, because it will recover soon and that means just profit. People will believe again in it, we have to wait some time until their fear will be gone.
Price will rise at the end of the year, and the current price drop will not have any major impact on the mindsets of the people, in fact people will prefer to buy at this stage.
120 k bitcoin will not be used for sometime. So that is a kind of holding. It could reduce the number of coins in circulation.