I don't care what people were claiming, I never did claim such silly things. From the technical point of view, the bottom is at $265. I don't know which direction and how far it will go right now, but I do know it won't go below 265 ever again.
I'd be interested in the technical approach you take to derive such a figure. Would you mind sharing? Personally, IMO anything can happen - the whole thing is entirely based upon group perception.
because as minerpart said, I'll add some more detail - bitcoin is on an exponential growth curve since 2010. every time we have rebounded off an all time high , it later became the absolute bottom which have never been broken. $1, $31, $265, now $1250 - once we go past that, there is no coming back, no matter how desperate things will become.
because if this point is ever broken to the downside, that would mean the exponential rise is over, and bitcoin adoption is complete - which would happen one day, of course, just not now, when we are at the very beginning of actual adoption. I still think this day is 5-10 years ahead of us, at least. And what we are seeing now, are just normal oscillations on an exponential run up, that we have seen 3-4 times before today.