The answer is a huge Yes.
It kinda disappointing but you gotta have to look at the positive side and take it as an advantage. Some people predicts the bottom to be around $10k. That's worse than you thought right?
We can't expect great things this year as the global economy continues to struggle. It might not directly affect the crypto market but sure it can be felt as more people are running out of extra funds to allocate in for their investments.