I am already panic buying lol.
I am calling a maximum potential low of $1500. However, I do not see a reason for which the price is dropping this sharply this weekend. If people were scared of August the 1st, dumping a few weeks ago made more sense (not 2 weeks before); not that there is something to be afraid of.
Weak hands are not afraid of 1st Agust, as you said they would have sold earlier. Weak hands are dumping because they are afraid of the dumping other weak hands started. That's all.