Bitcoin already recover it is now 56,238$ and rising. The Bitcoin price drop because of China's banning of cryptocurrency but it is now recovering because of some good news from U.S and other country like El salvador and venezuela, the largest bank of El salvador are now accepting crypto and Venezuela's airport is now accepting btc for flight payments this are some of the bullish news that make btc recover.
I agree on that Bitcoin is now fully recovered from the past dropping of it's price. Bitcoin's value largely depends on its supply and the market's demand for it. Maybe the demand are now rising because of some good news resulting in it's price to rise. People are now aware of Bitcoin and the profit that they can possibly earn on it that is why there are panic buying that happens.