I think it should.
As per CMC the total Market cap is only $121 billion. If the price of Bitcoin hits $3000, then the market cap approx will be $100 billion. I may be wrong in the calculation, but it will be less to what it is now. Which means most of the short term investors and panic sellers have left the market. Those who are left are either long term holders and big whales.
The only option left for these whales is to pump the price at $3000 level.
What do you think? will stop at $3000 level or will it go further down
The price will definitely go further down - it is obvious. The other question is what's going to happen with bitcoin this year? There is a suspicion that the calm in the price range will last for several months until the spring, in order for the vigilance of people to fall and then the bulls will start to throw up the price so high that it will be impossible to buy in a few days.