If you look on the chart, Bitcoin dropped for almost 70%+ since of it's ATH, now if you look on the one month chart, the highest dropped of bitcoin is 82%, if you consider the market history, there's always a pattern in a market movement, as far as the market chart concern, Bitcoin could be drop to 11k USD, IT COULD be, but I can see no reason to drop it by that price, the support of Bitcoin is 17k plus, now if this support will break, it could be possible, but As I've said I don't see any reason bitcoin will drop below 17k usd as of this moment, for me it's time to bag some btc and your favorite alts.