One of my guys here was doing a lot of hand-wringing a couple of weeks ago (when coin was around 8k) and asked me how low I thought it could go. I told him that I didn't think BTC had any chance to get out of this bear market and realize any organic price growth again until there was total capitulation of the interests that invested during the bull run last year. I mean idiots were buying coin with their credits cards and FASA funds for Christs sake. All of last years speculative malinvestment needs to be wiped out before there can be a turn around. I speculated that perhaps it would require a $3000 price level to do that. That's usually how a healthy business cycle re-establishes itself after a big speculative run-up / bubble burst.

Just wake me up when its over.