The last days, we've seen a massive bubble forming in Bitcoin, caused by irrational panic, fear, and Wall Street manipulators closing in their shorts.
This bubble will soon burst, as shown by the reverse "head and shoulders" pattern that is currently forming, and the price will be what it should be - easily 5-digits, and going up and up to make up for lost time.
We may even see one more wave of panic selling, but after that the price is going to SKYROCKET. But everything below 10k, because you won't get a second chance at this.
People say that "massive growth is not healthy". Well when you have only 0.5% of the world's population participating, you'd hope that growth would be faster than 50% a year or something..
No, the Bitcoin price is perfectly justified, and the downside we have seen was caused by manipulation, and therefore is a bubble.
You fundamentally misunderstand what a bubble is. A bubble is when people irrationally push the price of an asset way too high while the value of the underlying asset does not rise to nearly the same degree, if at all. If you think bitcoin price is going up long term, then you don't think it is in a bubble.
All that being said, you are wrong about the price going up, but right that bitcoin is a bubble. It is still absolutely insane that the price is as high as it is considering the fact that its transaction problems render the real intrinsic value to be near zero. There is no valid use case for bitcoin anymore and it is worth near nothing. The price will reflect this long term. Today's drop was a minor dip in what will be a much larger, longer term bear market to correct the irrational exuberance that led bitcoin to where it is today.
Are you upside down ?