But it will go back up since those who dumped btc will definitely buy back again.
Not necessarily. I, for one, am not rebuying, and no one I know isn't rebuying it either, nor do we have plans to do so in foreseeable future. Too many things going on around btc and other cryptocurrencies are worrying, to say at least.
Gamblers will gamble, of course. And most of them will lose, as usual.