Now that BTC went above 5k, what are you going to say about that? The market will recover and even be better than it was, the issue is when this will happen no one knows, but belittling BTC isn't right.
Of course the market will recover but no one knows when everything will run normally again, bitcoin will also slowly rise followed by other coins, of course all require a process to be able to get back up overall and of course all waiting for cryptocurrency to squirm back
I am glad the OP too can see now that his predictions are quite wrong, BTC did not only pass the $4k but has been gone above $5000 and surely will touch the value of $6000 by next week, I expect BTC to reach $5500 this week and continue till it picks next week target.
So the OP and everyone who believes that BITCOIN will not function properly irrespective of whatever condition we may believe will affect it, POW or not, what matters most re investors and their funds, Demands are getting quite stronger than its supply now, and the more investors continue to demand which this phase we are now is the accumulation phase, the more we will continue to witness an increase.