I am not an expert in markets or finance, but this is my observation: a lot of inexperienced people owning BTC will sell when they see these sudden drops; experienced investors will be there, reaping the benefits and buying BTC at a "discount". It wouldn't surprise me if BTC will go back to 1,000 US$ and beyond just in a matter of weeks.

This is NOT an investment advice, but I would buy some BTC now that the price is at approx. 600 US$, and keep it for a few months at least.