Yes, Bitcoin will certainly go back up. If people keep faith in Bitcoin cryptocurrency and governments like Japan come up with regulations, then it will hit new All-Time-High.
Governments like Japan and El Salvador openly approved that cryptocurrencies can be accepted as payments in their countries. Do you doubt their ability?
Companies like Microsoft, Wikipedia, Gucci and AT&T accept payments as bitcoins. They are also aware of risk associated with cryptocurrencies but still they accept payments? Ask yourself why?
Yes, there is risk associated with Bitcoin trading. But does it mean stock market trading is immune from risks? Remember how stock market crashed in 2020 pandemic? Stop Loss is key.
Here is a pro tip, after sharp fall in 2020, did you notice how did markets recover? That time every retail trader was afraid but big operators accumulated as much as possible.
If markets including Bitcoin drop more than 60%-70% then it is an investment opportunity. Every traders with more than 1 year trading experience knows that but still 90% miss the opportunity.
Remember there are 3 trends in stock market as well as cryptocurrency market. Trends are: Uptrend, Downtrend and Sideways.
Every tradable market including Bitcoin or crypto market, has to face bear face (downtrend) in which prices drop from recent highs, sometimes more than 50%.
It is part of the trading and investment. No one fears when Bitcoin prices go up. Everyone feels good when their investment grows. But when prices start falling, fear comes into play.
Investors especially retail investors start losing faith and under the influence of media and financial advisers, they start doubting their investment decision.