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.
There is still nothing clear in this market and investment in this time is really risky, this can affect your assets in the next 3 years. Looking at the fact that the uptrend has not yet happened and the value of Bitcoin is very volatile, the price increase will face many difficulties in the next few years and may not happen. I think it will take at least 10 years for the market to fully recover because it is a time when new generation of investors is born and will help the market grow strongly.