History tends to repeat itself and bitcoin has done this before more than once, the last time it had a similar drop in value and had a period of several months before a steady rise. Looking at the weekly chart I believe that bitcoin has bottomed out at $3000 and will be range bound up to $5000 dollars (roughly) for several months before rising up to the $6000 mark, a key resistance point. Once it gets there, the expectation of halving, the renewed confidence and greed will push the price upwards to break this key resistance point, once broken an upward trend will resume and then BOOM.
* The A/C line shows there is still strong accumulation.
* Previous downtrends have done the same, with similar percentage losses
* Confidence will begin to build up again as the Crypto space has hit despair.
* Expectations of bitcoins reward halving (about 300-400 days)
* History repeats itself and Bitcoin is growing and taking root more than ever before.
* Bitcoin still rules the darknet and provides security for those around the world whose national currencies are worthless so Bitcoin won't just go to zero.
The above is my opinion ONLY. If you got a counter view then hit me up, I'm a total novice by the way to all those super traders.