Bitcoin investment really takes some courage as we cannot predict if it can go any lower since no bearish sign as you indicated for some time already. Nevertheless, investors who purchased them and just hodl as long as they can, they can never lose in it until they start to sell. That is why many seasoned investors always advised never invest more than one can afford as hodling can be a long process if one has the concern to put food on their table. Bitconnect is a good lesson where there were people who even quit their jobs and believe it for a regular income. Invest what one can afford to lose and hodl. Thanks for your post for reflecting on Bitcoin market!
It's important to remember that the majority of those who have quit jobs and/or retired bought when prices were very low, or even mined before there was even a price to begin with. Buying now is a different game altogether. Now it's really an investment, still speculative nonetheless, with its commensurate risk/reward, and before is was a "pie in the sky" long-shot that paid off big for those early adopters who believed in crypto and helped make it what it is today.