ill help everyone out. by starting with the summery and then do the explanations and ansering some points pople made in posts that need addressing

tl;dr;
real underlying support value is the cost of obtaining the coin. bitcoin uses mining. which is costly..
if it costs $6000+ to make a coin and people in general/average buy a coin above $6k then the majority of community wont sell below the cost they obtained it for.
unlike PoS coins where costs are negligable. most PoS prices are not 'of value' but of speculation of utility (bubble pricing). thus there is no 'cost of creation' support line.and only 'buyers remorse' support line

now for the general chit chat stuff that needs addressing
the OP is talking about bitcoin... not the underlying blockchain. not LN which is a separate network that many different coins will be on..

but just bitcoin features.

even the core devs deam bitcoin as limited and out dated(because they wont scale bitcoin). which is why they are moving onto LN which is a separate network that many coins will use.
yes LN is not a bitcoin only feature. LN is a separate network for many blockchain coins to use, but is just presently being tested using in their words "the bitcoin experiment" (yep core devs think bitcoin is just a beta phase experiment and not a fully fledged end product).
segwit is not a bitcoin specific feature either. its a stepping stone into LN. again somthing multiple blockchain coins have/will have to divert people away from blockchain payments and into a LN network of offchain payments. so dont confuse bitcoin innovation with blockchain or offchain innovation.

core devs admit to this so dont rebut it

so now that covers most peoples over promise, under delivery they have been taught. and you can thank the core devs for strangling bitcoin specific/bitcoin only innovation/development and then moving on to other projects.

so now the question about bitcoins pricing
its based around the support line of what people will refuse to sell below.
this is because it costs X to mine bitcoin. which creates a support line. and also those separately buying a coin at a certain price wont sell below that price(unless they foolishly panic) and so they then also add more support to a support line.

the more it costs to mine  bitcoin the higher the support line will get.

ignore the winter speculative bubble area of the ATH. and instead imagine that the price corrected it self back down in ~march down around the $6k-$9k region, where the support lines lay

at the moment from march-may there was a dip. which dropped from a $9k suport to to $6k+ support because new mining asics are being tested and to be released for public use in june. so some pools have had the privelidge of buying them as  preorders and expanding their farms as a testing phase and thus their mining costs have reduced because the mining rigs are cheaper.

but there is still a good support line around the $6k+ region. and then. well unless the network hashrate doesnt increase to 60exahash by the time the next asics are on public batch release in june, we might see that support line change too.
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