In my opinion, this is just shaking the tree getting all the weak hands out. It will serve as a lesson to people who are just looking for an investment. Nothing wrong with that but it's a risky gamble. Now that is clear. Hopefully the people who are left holding are the ones who know that btc is much more powerful than an investment vehicle.
To me btc is a share ticket, gateway pass into the new economy. If you don't have a ticket, you are not getting onto the network. You will be willing to pay a lot more than 20k to get your hands on some in 10 years, just for the right to participate in the new economy. Early adopters are going to reap the rewards of forward thinking.
The banks in my country are beginning to clamp down the easy on ramps to crypto. It's not out of the relm of possibilities that soon you won't be able to use the banks to fund a ticket onto the crypto railroad. You will have to work for it.