Not because we're in bearish market for a long time, you'll think of point of no return. There is no such thing btc won't recover. Number of user is increasing from time to time wether it's fast or slow. Btc will always recover but it really takes time. Despite of struggle I've witnessed the recovery and the same thing will happen again and again in perfect time.
BTC is the strongest coin because it has been dump many times and still recovered.
Maybe people would think that it's over or no return because the price is very cheap now compared to it's ATH, but it has been the nature of crypto
which the price volatility is high and the pump and dump could anytime happen even without big reasons to cause it.
Think about that dump, the latest huge dump, bitcoin in beginning of 2017 costed 1000 dollars, to not go further into the past, in the end 2017 we had price 20000 dollars. After all that we are at around 4000 dollars. That dump is rise actually, we are higher bottom than ever before. Even if price drops a bit more we will have higher bottom than before, personally I think we will not see bitcoin under 3000 dollars again, if that happens that will temporary and good level for buying.
I agree with your analysis, anything can happen and the market can even dump further but that does not mean it will not recover again.
As we stay here longer, we will be seeing more price action and that makes us aware of the situation, in the past there's only low volume but now the adoption has a significant increase as we have lot of players in the market now (big and small), so there's no need to complicate things and overthink on the price action, we just hold and that is enough already.