Bitcoin prices have been in a free fall and dropped to a low of $5,860 a week ago.
It meant it dipped below $6k for the very first time since October 2017. Cumulatively, BTC has lost 70% of its value in 2018 and the peak of $20k on December 17 is just but a stat now.
I would not say that it is dead. What's happening now, although it's very alarming and disturbing, is part of how this system and the market works. The cryptocurrency market, although honestly is not doing that good, it still has a long way to go to unfold and recover together with all of its assets. Therefore, even if its not doing okay now, it's still too early to pronounce it as a dead market and currency because it has a lot of things to show for in its tank that would help it prosper in the long run.