Speaking about Bitcoin's current situation, Bitcoin's market value is no longer better. Bitcoin was in the very first condition, at the price such as Bitcoin, now it is in a very bad condition. In the first place, Bitcoin survives in the current market, depending on the work and needs of the people. We can say for sure that Bitcoin will again be elevated to its highest rank.
Indeed, the situation right now might be dire but IMO if we consider it for long term, it is actually faring good. The price increase have become more natural, some of the over-hyped and over-valued coins have returned to the earth.