A hard hit may not be a bad thing, stopping the irrational game in time to really save bitcoin. It would be a real disaster if bitcoin were allowed to become a highly speculative target.
I think the price reduction is a good thing. What do you think?
A price reduction is not really a bad thing, but the problem is that there are many people that have invested a huge amount of money and they cannot allow themselves to lose that money, which is a violation of one of the most basic rules of investing so when the price goes down they get hysterical because now they are losing money they cannot really afford.