It's really hard to see bitcoin crashes to $7-8K levels although we know how the price is very volatile so I wouldn't be surprise if it did. However, I can't think of a factors that will brought the price to this level. But if you look at the price today, looks like there are panic selling now, don't know what triggers it, but is the second time that I have seen it in the last 48 hours. Not only bitcoin as well as altcoin going red today. But I'm still not worried though, I have seen bitcoin recovered by such crashes. Only those that are fairly new to the game didn't know what to do if even such as this. Actually, this is a perfect opportunity to buy back bitcoin. Its very cheap and should be hold for long term. Its barely holding $9000 now, I hope most of the casual investors should take this opportunity to get bitcoin otherwise, it may not be possible when bitcoin hits above $11,000-$14000 at the end of the year.