The absolute "bottom" for it imo would be in the $2000 to $2500 range, at which point id buy a ton of it. Realistically though, i dont see it dipping below $3000 USD, and if it does, its a good time to buy (even if it continues falling after).
For now, lets see if it reaches $3500 USD this week.
I bought $1000 CAD at $5100 level because i wanted tome cheap altcoins. Now it looks like i should have waited, and thats why you should only play with money you dont "need" on the daily. In China, ICO fund raising events at 5 star hotels were even attracting grandmothers. It got so out of hand that even seniors were throwing cash at any coin popping up, thinking its a get rich quick thing. Thats why the Gov stepped in (plus the transition coming up next year i believe, in the communist party). China news is a "pause/halt" on ICOs, not an outright ban, so read between the lines.
Also I loved that JP Morgan CEO. "Bitcoin is a fraud...but im not willing to short it with my own money" lol. You know he's buying bitcoin on the down-lo when it tumbles. Also, bitcoin is based on fiat cash infusions, otherwise it would still be worth 0.01 cents...Thats why its so volatile. Up and down swings galore.
https://www.coindesk.com/correction-not ... e-profits/
https://www.cnbc.com/2017/09/12/bitcoin ... t-now.html
https://www.coindesk.com/bitcoin-finds- ... -breakout/
Im hoping for a complete market crash to the $2000 level personally. Even though I'm technically losing money now, the red nnumberssss bring a smile to my face. The bigger the better.