Kenya questions Bitcoin Jan 2018...Pull-back => Good or Bad?

From the highs of $20,000 to the lows of $6,000, good or bad for Crypto-currency?

Several events have taken place almost simultaneously, to see a decline of market capital from over £800 billion to $300 billion. They include

• Bitfinex Tether subpoena by Securites and Exchange Commission in the US, on allegations of creating USDT to create false demand
• Japan's CoinCheck exchange half billion hack
• Asian Lunar year spending spree estimated @ $100B
• S. Korea/China/Australia bullying and legal impositions of Crypto-currency trading firms
• India imposing regulation on Bitcoin (firms)
• Facebook, Google withdrawing advertisement support
• Major credit card companies banning purchase of Bitcoin using their instruments
• Et al

... and the onslaught seems relentless. Historically January has always seen the market correct. It is no different this year. Seeing there was so much capital injection when Bitcoin was at its all time high, a good number of weak hands have since left the market with talk of imminent crash.

The proponents however, argue this

• The growth from <$1,000 to >$20,000 was unnatural, and the market needed to come back to earth, back to normal growth
• The industry had seen investors greedy only for a quick buck, without any hindsight on the technology behind it. Shedding them off, despite price taking a huge retracement, was good for the long run
• All said and done, awareness has been created and the general populace now knows about Crypto-currency. Mass adoption is slowly becoming a reality
• ... and prices are now more affordable now more than ever. Bargains abound.

To invest or not invest?
Bitcoin has been around from 2008. 10 years now. It's taken hit after hit resiliently and come out stronger. The market capital, even at $300 billion is quite significant. The technology, like all things destructive, is viable and good for mankind.

My take, a time will come, and anyone will look back at the price now with awe. We might never see this prices, this LOW, ever again. Any doubting Thomas only need to zoom-out, to see that Bitcoin was only $900. It has been worse retracements than now appear as bleeps on its curve. This too shall pass