Actually the situation was much worst back then. There was a fall of almost 80% in the market of Bitcoin and it looked like it is not going to survive anymore however applying the concept of marginal benefits, the technology had to grow further. Many famous people had invested that time and held onto their coins which had grown immensely in value in 2017. Same will be the case this time despite the fall in the market.
Actually we have had something close to it already even though it is not as much as 80%. So far, it should always be expected that things like this should happen as long as greed sets into the market at times. One thing I have always noticed right from the onset is that, there is absolutely no way you can push a price manipulatively upward when there is really no serious demand except people wanting to get rich and expect that it won't have to correct. It does not happen that way!
The market of cryptocurrency is yet to jump back and I am not sure if this market bearish situation is the most singular biggest crash since 2013. I think the cryptocurrency market is correcting from the rise of 2017 marker. Things should get back in time as all the negative vibes disappear!
Corrections are always a normal thing in the market and so far, the correction we have had so far has been a very healthy correction and I would not necessarily call it a big crash. Things and times are changing pretty fast, and no one absolutely knows how things would end up panning out as we forge ahead, but so far, the market looks like it is ready for some pretty good uptrend at least for the short term, and I guess at this stage, we will just have to wait and see how far it eventually goes.