The euphoria and delusion is wearing off, and when that's gone all that's left is utility, which is still too low to be at this price. Eventually future potential has to be realized, and that's what Bitcoin's current problem is.
I wish there was an actual use other than the speculation that boils up from time to time. It's not only something that Bitcoin suffers from, but basically all crypto currencies. The insane amount of speculation has completely demolished any sort of understanding of what crypto is about. Everyone here is part of riding the hype train (me included), which is understandable on one side, but irresponsible and quite harming on the other side. In all the years that crypto has been available nothing really changed for the better. It's still speculation that thrives the market, and I don't know if we will see any change of significance in the coming 2 to 3 years....