This is fantastic - Can't wait for BTC to hit the the three thousands again and near a decent buy-in point. SV is now up 40% and stealing all the hashing power, while BTC enters a crash and the mining market collapses around it. Congrats to all that sold when we sold the alarm at $17K, and welcome everyone to a sub $4K Bitcoin!
Don't buy yet, it's still going to slide a lot more. $4K is just the beginning, it will get much cheaper as the failures cascade.
I don't think that bitcoin prices will fall as a result of "failures cascading". Even though I do expect prices to continue to falter for quite a bit before it eventually stabilises out, I think that the main reason is still panic dumping due to the bearish sentiments.
But obviously, right now, prices are extremely low and to me, it's a great price to enter into the long term market with.
With regards to potential further corrections, I honestly think that the best strategy right now is to start accumulating in equal chunks with dollar cost averaging. There are no guarantees that prices will be going to be that much further down from this point on even though I expect it to, so instead of trying to time the bottom completely right, dollar cost averaging makes more sense imho.