With Bitcoin below profitable levels for miners, they will also begin dumping to offset risk. It will take years for it to regain confidence, if there is not a government-backed crypto by then. In my opinion it's not worth the risk to be invested in cryptocurrency at the moment. If the $4-$5000 level is not defended, I can forsee it reaching 2k to 4K which I think is the inherent value of Bitcoin without speculation. It's clear to me that the global elite do not wish to make Bitcoin the new money.
I might long if it hits the lows to 3k again, I believe it will be a nice spot to see another pump back up to $6 or 7k before we hit a final capitulation stage.