If you were to look at the fundamentals of what drives Bitcoin and it's value, you'll find that there are various factors that support its price and use.

Assets:
Bitcoin does have tangible assets. The mining farms in various countries are easily million dollar investments if not more. Funny enough you can calculate some of this in the rare and precious metals used in the graphics cards currently mining it. This side business of buying and selling cards is one element propping up the Bitcoin price. Don't forget the many other types of businesses from Visa Cards, to exchanges add to the value as well.

Scarcity:
Most of us know that bitcoin has a limited supply, most of which has been mined. The difficulty to mine it will double in a couple years and the more people have, the more expensive it will be. There is no mechanism aside from private keys to retrieve lost Bitcoin so every time someone loses millions of dollars of Bitcoin, yours and mine becomes that much more valuable.

Brand Recognition:
It was the first after many test programs in the late 90s and early 00s. People have more of this than any other coin and the rise and fall of Bitcoin raises and lowers all ships. Make no mistake, the benchmark is Bitcoin.

It will never go to 0:
Based on the two factors above, even with super heavy insane manipulation, there is value in the coin. You could almost take away the use case and the result would be the same. With so many people owning coins, there would have to be a massive world wide dumping of BTC on a scale that would trump even the fall from 20k-7k. Someone would have to somehow hack the code of the blockchain or something drastic, and even if someone gained the capability, the coin can evolve to counter that.

Investment $$$:
For Bitcoin to become an average investment for me on par with the highest yield savings account it would have to lose at least 6X its value. and even then my income would scale proportionally to meet it as I bought more. in some cases it would have to lose 18X its value.

The use case:
Even at its slowest months ago, Bitcoin was the fastest way to remit money without paperwork, in hours not days, across continents. It is a currency through and through. Some people accept it directly and if they don't you can grab a Visa that will allow you to buy your coffee at Starbucks.

Conclusion:
Bitcoin is not going away. Even if it devalues more, it has arrived. No one controls it like the other coins. It is free to go its own way.

Stay cool!
Hypersonic

P.S. HAPPY 4th!