This is a vicious cycle in bitcoin. Every time it hits a new all time high, it dumps the price by more than 50%. But I do not see the price right now as bad. Actually, if you compare the price last year, the same month, it is still in positive. Those who says the current price is bad has not been here when the price was just in hundreds. I see the price still above 6K, I am happy even it is a bear month or year. I know at one point it will turn around and it will be bull again.
Most of all, those people who bought bitcoin at their peak in 2017 are nervous. And they can be understood. This is a colossal loss.