The current state of the market can actually be described in two words: a "steady decline". Even some experts say that the same bitcoin could fall to 2500.
Yeah that would be the case if the holders will going to sell their holdings due to panic after the downfall and considering that it may fall for more then expect more panic selling. I know more of the investors now stilll holding with worries in their mind on what will probably will going to happen on bitcoin market price.