It is down 70% from last time  high value, but it is also 300% up than it was in the summer of 2017, so it all depends how you look at things. Glass half full or half empty 
Can it go lower yes it can, will it go back up? probably will go up, question is when and for how long.

This roller-coasters are orchestrated by the people with high influences and sometimes are intended with higher purpose then just personal gain.