This the most depressing thread. Why bother? If you're that negative about btc, then why even spend the time to post about something that you do NOT believe in?
I do believe in BTC, but I also believe China has been the linchpin of this $200+ valuation. If they exit the market we'll return to some semblance of the pre-China valuation + any added value from legitimate advances within the BTC economy, which would (IMO) put it in the $200-300 range. The only reason why I go as low as $150 is because if we breach these lows it will inevitably be oversold.