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. 
The market is volatile so it only means that no matter how hard bitcoins or other cryptocurrency will be going to drop its price, it will still manage to grow up again by the end of the day so try to invest right now while you have time.