Yup. Even short term, look at the current price. We should be rebounding to 38-42 soon. M2 is literally any day; nobody knows, can be tomorrow. If that happens we are going to push 60-80, especially since the market has not factored in the 5 million dollar funding. The fact that things are so silent and all this fake extreme FUD kind of point to me a sleeping giant is about to be awoken and some people are going to be very rich scooping it up at these prices.
What make you think the multi-million dollar funding hasn't been factored in? I believe the contrary...it's been public quite a while. Factom did not waste any energy tweeting each article that came out about it.
I frankly don't know what's going to happen. I know I lost my ass waiting for the testnet to come out...any day now.
As long as BTC is bullish the safe assumption is that all alts are going to hurt a bit. News helps but I haven't seen many things flying lately.
I can't say I'm sure how much the price will change regarding M2, but I believe it will come out during the next week or two, certainly November. If you understand coding, keep an eye on their github, it's a good indicator of what might be cooking up!
regarding btc, I think we are seeing the stabilization now, everyone expected it to go to like 1k usd but I don't think we will see it above 720 any time soon (this was a significant growth anyway), except in case of some new really bad news regarding fiat systems.