Bitcoin price is what it is because the 1% the whales have been playing the market, pumping and dumping in a strategic event timed with news.... The market is small enough and these people were able to buy most coins not that long ago for a few hundred satoshis each....

Its an easy game to play the more $ you have.... However I think they have stalled the market now burnt a few too many regular people... So these wounds will take time to heal...