Remember that last cycle bottom was 3200, so how do you expect something different with the economic situation in the world? how to motivate new institutions and bring new money in the market with terrible recurrence of the dip at that level? The same size of money will be used to pump the market if not more, the loss in the market and low motivation will be too bad to deal with. Lets just hope we dont reach 3200, is not good for bitcoin at all
That bottom reached because there weren't enough people who are holding bitcoin like today, still more than previous one though. Remember it was hundreds of dollars not thousands before that one, then it was 3k during that period, and now above 15k during these days.
So, every time we broke over ATH and get a new one, the big drop usually happens but stays above the previous bottom for sure. We did that already and we do not need new buyers to keep it here, we just need no new sellers instead. If people do not sell, then the price can't go down, and as long as the price doesn't go down more than it is going to be a good situation without a trouble and the price will go back up eventually.