The bottom isn't here yet, bitcoin actually heading to $3000, probably.
According to bitcoin momentum predictions technical analysis the way the market behaves. Look at the daily transactions of bitcoin that are happening on chain as a way to measure it.
Early bear phase mean daily transactions value have dropped right down to around 100K per btc that is moved every day on chain. Late bear phase is when the daily transactions values are rising to 250K bitcoin per day.

Who's to blame?
Blame to all of the people who following the market sentiment to panic sell. There are two group of people, short-term traders and long-term holders. Short-term traders aim for profits in panic sell market, have sold at $8K and buy back at the bottom, they can make more than 100% profits.