As a full-time trader and botter (one who employs algorithmic software to enhance my manual trading), I must say this volatility does wonders for trading.
I'm someone who A) only puts money in I can afford to lose; B) if I do convert FIAT to Crypto, it's crypto from then on, so therefore, 1 BTC = 1 BTC. There is no death spiral if 1 BTC = 1 BTC; C) since I primarily trade BTC pairs, and I want to accumulate BTC, as people move in and out of this and other cryptos, I'll happily gobble up their panic sell orders, as will other crypto-maximalists and D) try to earn my crypto all I can instead of buy it.
I will admit that I honestly expected the FIAT price to be much, much higher by now, and for fees and scaling debate to be the dominating conversation by this time. The lowering of the FIAT price has allowed me to brush up on my own skills, BUIDL, as they say, on my own offerings, and earn crypto faster.
I encourage everyone to try and earn crypto if they can.
RE: My Bitcoin Death Spiral Theory (Worst Case Scenario)