Yes it is, hence we are still in bear market it's still inevitable that we still have downfall in the market and with the negative sentiments of FTX collapse, it created more fear to everyone especially future investors in crypto industry. Nonetheless, next year might be a little turn around of the market that's why it's best to stock up those bags and hold for next year or next halving it is.
It is obvious that we are in a bad period right now that is true, but that doesn't mean that we should be able to focus on the bad part right now. You should also realize that going up will start one day, and it will be that single day which will change it all. One day we will wake up, the price will go up a bit, and then next day it will go up a bit more, and then it will keep on going higher and higher and you look at a 100k price for bitcoin suddenly, sure will take months but that will happen.
So, maybe that is tomorrow? Maybe its a year from now, we do not know which one it is. I know that it is not going to be that easy but it is looking like a nice situation for sure. I personally believe it will happen and we should be ready for it.