Bitcoins will never drop to $200 dollars, the stable price in the market today is $6k dollars and all we have to do is be more patient to wait for the price to reach $20k dollars again before the year ends.
Apparently, people do not understand what they call a bottom, it is usually a huge support and a certain price at which people are ready to go all in and then we see price action in such spot over and over again. Patience is always the key just like you said, and for those who are thinking a $200 is possible, I guess they should keep being in their wildest dreams because this cannot happen. At this stage, anything that would even make us go below $2k is already too crazy, let alone as low as $200. It is not a pump and dump market, probably some are forgetting that.
I think its possible. If you have invested heavily on Bitcoins when it was at a high price,then this would be disastrous! However, I am a firm believer of the market cycle that can be seen in every investment instrument. According to the market cycle we are just seen a huge correction in terms of the BTC price. So if the price goes down to $200 I think you should buy, because it a really bargain price. So when price goes down hold on to your current coins and buy more at a lower price.
Unless we do not want to be realistic, the price of bitcoin going down to $200 can only be possible when there is something horrific going on and everyone is trying to get out from the market. This is something that at this stage, such level of sell out will be very hard to find. The way people think though, about the market just dropping to some crazy level can be so surprising. Yes, the market may be volatile to a certain extent, but that does not mean it is dead.