With the current price drop, i havent really heard any facts to back it up, but in several places I've read that we will have a 5-6 day decline.
I personally do not think so based on the fact that there isnt anything to back it up.
The is indeed some news that back it up. Nasdaq the second-largest market stock plan to support cryptocurrency exchange and in german VPE trading bank started to support cryptocurrency. So i believe there is indeed some news and development that support cryptocurrency price, i believe soon it will recover back into 700 and reach 1000 $ soon.