It was hard for anyone to read at the beginning of the year that bitcoin would fall to this low. Indeed as mentioned in this post, tether and bitfinex have played a huge role in bitcoin's falling. Tether plays a big role in the operation cryptocurrency exchanges including bitfinex. And with claims that it does not have the currency reserves to back it up, bitcoin has been left to drop massively, affecting other cryptocurrencies.
Let's hope SouthKorea's announcement not to ban cryptocurrency will influence the stabilisation of bitcoin inspite of India's goverment doing all it can to ban it. Something which is surprising, as India's economy is not a stable one, And they would take advantage of using bitcoin to get most of their people out of poverty.
But I still believe inspite of all of this, bitcoin will rise again as it has always done in the past after controversial decisions made in the economy.