Well, it's not an entirely wrong speculation, Bitcoin decreased 90% back in 2013-2015, from that all time high of 1200 ish., so if you want to take a history record of how volatile Bitcoin can be, this would be the worst case scenario by far.
But it's highly unlikely, i suspect BTC to settle near 5-8k Levels, it woulden't suprise me at all if Bitcoin fell back to 5k.
and now the price is down again into $7k and I don't think that it will increase more than $9k right now because the signal is still down and maybe it will get down again. but I hope that we don't see the down until $5k because it will be too deep for bitcoin price to get down and I think at this moment, many people is panic to see the price. so be careful if we decide to buy right now, make sure that we analyze first until how much the price will down so we can buy at the lower price.