There were two main reasons  for a huge drop in the price of Bitcoin. One was the ban on ICO's and Exchanges by China and other was J.P. Morgan's CEO Jamie Dimon's statment that"Bitcoin is Fraud".It was a very smart move by Jamie Dimon which resulted in crashing of Bitcoin.But now market is being recovered and within a month Bitcoin has reached its original price and it is still increasing . People who held there Bitcoin instead of selling them  and considered this price drop as an opportunity to buy more Bitcoins will surely get huge profits .