Well at that time i think more and more people sell and that cause the price drop, but now i think the situation is changed and now more people start buying crypto and this will help the price grow.
Many traders actually refused to trade below $3200 and to me that has created bottom and since December last year bitcoin has been trying to prove that to us. I do think that if we really want to makes money from the current market conditions then we should buy now and keep holding for the next 3 year and it is going to turn to another thing completely.