Just look at the history of Bitcoin - it's had many crashes of this magnitude. The last huge crash was back in 2013/2014 and led to a period of stability where the price settled at roughly $200-$300. Smart people acquired during this period.

I think essentially, the latest volatile speculation bubble has just popped, and we're going to see a slow descent until it evens out and remains stable at a lower price for a while. Before the next bubble ;) so buy up!