It will keep dropping. People would have already been trying to buy up 'cheap' coins at $600-$700, but they're not.
They will continue to wait until it bottoms out at around $100.
https://bitcoinaverage.com/#USDSee all those places where the squiggly line is going up? That's people buying.
Not going to have the same drastic effect of April due to . 1)Lack of Blockchain forking 2) Lack of Exchange Singularity 3) Lack of Additional onset panic from the prior two concerns. We didn't have a blockchain split, we had a whale dump 5000 coins on a low moral day, with misinterprited news and he dumped 5000 more after the ending of the GoxLoop and was able to get his coins back +40%... dont let the dream drive you to greed.
Yeah, it'l blow over within a few weeks. Might take a while to get back to the old levels if china really is backing out, but personally I can live with a tenfold increase every year instead of the 100fold we had until recently.