Can't go down to much past 400. Have you seen the difficulty? Its going crazy and miners cant fine for free. They add hash power with the intention of selling for the price at the time that they added the GH/s. I think what we're seeing is organic upward pressure, increased positive news coverage, and amongst the financial community at that; those guys have money, right?.
Coupled with the fact that its's becoming more and more expensive to mine for a profit, especially since the halving is coming up.
Brace for launch long term (and great volatility 2016).
This is exactly what was said at $800 in 2014.
+1
If you try to justify prices based on some sort of mining cost floor, you're gonna have a bad time.
Commodities markets have shown many periods in history where the price of a good falls below the production cost. When supply exceeds demand, selling at a loss is better than not selling at all when you have bills to pay.