At $411, bitmain's logic was that BTC value should rise to $364 per coin on the back of the competitor not taping out and therefore the factored in diff increase not materialising as predicted (in order to match the original $320 price in BTC).

I have to say, they have a point since BTC has been rising today, but to be proved right, BTC has to rise to that level in the next few days (even hours!). That beggars the question, is it worth buying gear now or buying coins?