He wasn't right. His words where just not used in the right manner. He meant why the price dropped down that much from the all time high, and that's really it. These people aren't buyers, just doubters.

Everyone with a basic level of market understanding would know how strong past bottoms are, especially when it comes to base bottoms, and that was exactly what the $6000 mark was. It's common market knowledge.

Just like bull runs have their limits, so do corrections too. In case of the bull run it was pretty obvious that it wouldn't break the $20,000 mark, and in the same way that applied to the bottom.

I wasn't all that focused on tax sales at that time, but that would only convince me more of a correction to happen at $20,000.