It is end of July 2016 now. The price has been firmly above $400 for the last three months. I think the bottom is $600 now.
we haven't yet seen where the new bottom is. let us wait till the next correction and then we will see when it stops and what is the new bottom after halving.
the bottom is at 500 believe me, the price cannot drop any lower because it would be not profitable for miners to mine their bitcoins, though thats just my guesss