In 2020 and 2021 Bitcoin went from less than $10k to $60k in a couple of months. Now it did basically the same but in the opposite direction, except that we're currently at $18k instead of $10k.

I wouldn't buy at either price, but to me Bitcoin at the current $18k looks like a much more promising investment than a couple of months ago when it was $60k. Not only based on the price, but also based on the fact that a lot of players with risky business models are driven out of the market.

For comparison: If you invested on Jan 1 2020 into an S&P 500 index fund you increased your investment by 18% (based on the total-return index version of S&P 500 which includes dividends). If you invested the same amount in Bitcoin you more than doubled your investment and are still at +150% of your initial investment. I'm not saying that Bitcoin is necessarily a good investment in the future, but based on the large volatility in the past the current decrease in value doesn't really look concerning to me.