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$.
No need to get too much excited,I don't see any panic wave which is causing the prices to fall more and more which will leads to $800.Is there an analysis made by you to say this or just a instinct saying.