Ask HN: What happens if/when crypto will significantly go down?

As we know, the crypto sector has been up for a while, and I hear conversations about the inevitability of it going even higher. I am not sold on it.

In fact, I'm curious to hear what you think it will happen if crypto goes down by 20/30% or more. Would another crash happen? Would Microstrategy go bust? Etc.

Also, what's your bull or bear case for crypto, and for Bitcoin in specific?