It is very possible that the level of $3.5k is the current bottom, but it does not mean that it is the ultimate bottom. It is very likely that another wave will come soon. It will be a big increase and, unfortunately, an even bigger drop.. Even up to $1k! And in my opinion it will be a real bottom, which we should be afraid of.
Why would you be afraid of a bottom? A bottom by definition means its got nowhere to go but up.
Also I very much doubt it'll go down much past $3k if it even gets under $3k, and $1k seems extremely unlikely. Panic selling from the BCH split caused the current drop after a couple months of stability, that panic selling now seems to be over. Likely we're at a new stable level without another random large negative event affecting the whole market. I'd expect a sideways half year of movement in the $3k - $6k range. Sure it might go lower, but just I wouldn't be on it outside of another big somewhat-random event.