At which price do you think bitcoin will not be able to recover from? There is strong support at $3500 but is now at risk of being breached.
Is $3000 the low point after which there is limited chances of it returning to the glory days?
Bitcoin can recover from any value. Theoretically the lower the value goes
the quicker it would recover or at least stabilise (temporarily).
We can asume as the value drops there will be bigger buy orders generated
which would stabilize the fall in values.