Since lot of people are in Panic they will start to sell their BTC with loss , Market will be red more than ever before,
So this is how It work:When BTC 2.9K$ Panic will be started, Downtrend will be slowly started too. Price will be dropped to 2.5K$ - 2K$ than Next wave of Panic will be started and price will be fallen to 1K$ and it will stable at 800$.
Price don't move in that ways and I strongly believe that we might have another wave of bull trend more than bearish trend in some days and months to come. The market has gone down to far that people are not panicking about what happen next. No matter what happened some people are still holding and some of them bought bitcoin above $10,000 and hope are still there that one day the market will recover and the bull trend may give them more profits. Panic is no longer in us again since we know how this market operate.