it will be lower until august 1st come. right now im seeing it will have a chance to drop up to $1300 hahaha that's sad but it will go up don't worry. we need to wait till it increase again. panic selling ? right now people are on panic selling because they're afraid to lose their money on their bitcoin wallet.
wow its too deep i guess, i am only predicted at $1500 but if its really down until $1300, then many people will be sad and disappointed because they bought bitcoin at high price. but for people which have much of money, they will buy a lot of bitcoin and hold it as long as they can and they will happy to see that price.
similar situation always happened , when people see there is more than 20% price dropped , people get panic and did not think clearly. they just follow the trends which it is never give you any guarantee to have a correct prediction .
just make your own research, execute it confidently and see later for the result.