Bitcoin reach almost 20k last year and gone down to 6k this beginning of 2018. People are panicking because of some countries are banning bitcoin and so called experts causing a fuzz that bitcoin will not survive this. But guess what, every year bitcoin falls hard and shoots like a moon. I think we are lucky for this year because bitcoin started small and I believe it will pump hard at the end of the year.
I have the same opinion like yours, in additional of these falls is the FUD and bagging more of whales. Whales can put walls on bitcoin price if they want and once the price drop they can buy more and then sell high and put wall again to bring bitcoin down and buy again. this is the reality of bitcoin but once everything is fine again we can see bitcoin to rocket more. We have seen bitcoin to fall so many times and stand up flying. If you can't take the low fall then you can't be part ot the passenger seat once the rocket launch. Bitcoin has a low amount of supplies, but every day new people are coming to be involved with this phenomenal coin and the more bitcoin stays the more we get demands.