It seems to be shakeout time, as the weaker nerved ones rush to the exit and sell low. Where will it bottom, like you said who knows. But I agree - it will bottom out. And when it does, reverse and give us all great buying opportunities before returning greater than before. Having traded markets for many years I have learned to see certain patterns in the charts. So long as the underlying asset is of value (and Bitcoin is) then I'm in still in.
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Yes, it is shake-out time. The fewer Steemians shaken off, the better.
Yes, hopefully enough Steemians have been through these cycles to get it.