People believe bitcoin is backed by nothing. I think that is not the truth. I believe bitcoin is actually backed by people themselves. It is backed by none other than just you. We all witnessed the price has been fluctuating by all those FUDs and bad news. The price changes by emotion and non logical facts. I believe you hold bitcoin no matter what happened and would happen, and believe it is backed by all of us, it would make a history. 
If you are saying that bitcoins price will rise again because of the people then yes it will be depending on the investors in the market, if people will be starting to invest on cryptocurrency again then the demand will continuously and within a few months, the price might go back to normal.