It doesn't have to be all that bad, because I am sure that ~$3000 is where bots will start to pool up so much buy support, that it very well may turn out to be the bottom. If you look at the charts of last year august/september, that's the level where the price found a bottom after a pretty harsh selloff tanking the price from $5000 to $3000.

The positive side of this selloff is that it grants investors certain taxation advantages, which somewhat makes me think that we won't be seeing any noteworthy increase this year.

I no longer plan to spend anything on black friday sales, but solely use my fiat to buy myself some more coins. Bitcoin at these levels offers more bang for your bucks.