In 2011, bitcoin dropped from $32 to a mere $2. After this crash it took some time to recover, but the coin got there slowly and surely, rising from the bottom price crash after crash. I believe we experience a similar crash as the 2011 crash now
(taken from forbes article) :
June 8-12, 2011Peak price: $32
Price decline: 68 percent
This was the peak of the great Bitcoin bubble of 2011. Prices rebounded somewhat after this initial plunge, but there followed a long bear market that bottomed out at $2 in November 2011, a total decline of 94 percent.
January 17, 2012Peak price: $7.20
Price decline: 36 percent
briefly falling to $4.60 before settling around $6.25
August 17-19, 2012Peak price: $15.25
Price decline: 51 percent
reaching a low of about $7.50
March 6 and 11, 2013Peak price: $49
Price decline: 33 percent
briefly falling to $34 before rising again to $45
April 10, 2013Peak price: $266
Price decline: 61 percent
$140
As you can see, after the drastic crash, the coin kept reaching peaks and crashing. The general value kept rising, though. From the $1200 peak, we have fallen back to $180 now (at time of writing) This means, the price has already decreased by 85%.
My prediction is that the bottom will be reached in the upcoming days, reaching an ultimate low of just below a $100. After this a slow, but steady rise will start.
What do you guys think?