As I've said before, the price of bitcoin entirely revolves around a single entity on the fraudulent exchange Bitfinex rigging the price, so it can go to two cents or a trillion dollars a coin each any second because there is no aggregate market and no real price discovery, just fraud and cooking the books.  Having said that, this entity on Bitfinex (unless it's someone like the ESF or Goldman/JPMorgan) is probably connected to Bitmain.

Is Bitmain getting close to imploding?  It appears so, and then the upward price manipulation could vanish, or maybe some Chinese lender will prop them up.  The manipulation from $200 to $20,000 was to the upside 90% of the time and not downside, so removing Bitmain from the equation might be the end of the pump and dump party unless a random new pump and dumper like Barry Silbert or Tim Draper steps in.  They'd probably be scared of getting their asses handed to them from not controlling the market like Bitmain does, though.

As for what the bottom is?  It's too hard to tell because if some huge mining entity like Bitmain does go bankrupt, it can implode the pseudo, temporary cost of production floor much further, and the fact they were probably the entity rigging the price upwards on Bitfinex as well would make it even more catastrophic.  So yea, bitcoin is basically just a giant, Chinese pump and dump scam right now, which everyone in this thread already knows but attempts to avoid talking about it to not hurt their "investment".