"Fair price" = just a name for Estimated on-chain USD transaction volume / 200000.
![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FrzirHX8.png&t=663&c=5juCKh6UZtmd2A)
So we are witnessing the equivalent of the drop from 7.5 USD to 4.5 USD.
Therefore, as it stands, I believe the real bottom is below 300 and above 200. As it stands now there is no chance it can stay below 250 for more than a day. Unless the USD transaction volume also drops in the next few weeks.
On a more facetious tone... maybe we are here:
![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FAsQkXHV.jpg&t=663&c=YJ9Jh8td57JXdw)