Bill, have you looked at the BTC price history graph at all? Since the beginning of 2010. I urge you do so
Right now is the 3rd "all is lost" region so far.
But the current downtrend is the most severe. And beyond a two month duration (will be reached during the coming week), it will also be the longest.
Not to say that this downtrend can't reverse. It has a corollary: what goes down can go back up.
Once the bears are all squeezed out, price will snap back up. The market will be consolidated into fewer hands each owning more BTC. These wealthy individuals can remove ask walls, and they also have the USD to push the market higher with successive bid walls. The bulls rush in after the reversal becomes apparent.
Or atleast that's what I'm betting.
I haven't done spectacular on these swings, about breaking even in USD terms. But I am happy with the increase in my BTC holdings.