RE: Dont Cry.. Just Buy!
Doubt full the miners will stop mining at that price and your BTC blockchain will grind to a halt if even 25% stop mining. You could have 4 to 10 hour random coins. They wont let it fall that low its to risky for the entire BTC chain. All btc miners are now dependent on each others survival as the difficulty factor is to high to even loose 15 % of the mining pool. The miners have the money and coin to dictate price.
You know we use more electricity to mine btc than most countries use. BTC is now big business with big investors .They will no more let it die than they would Microsoft. The price must stay above 5 k to keep all miners mining. The difficulty factor is now to high to mine for under 5k and the electric cost must be paid as you go at the large farms and even more so in the small ones.
All of the miners know exactly what it cost to mine a block you guys think the you can find the bottom with chart analysis but its always been a cost analysis.
The miners have kept the price down to keep the number of miners down. If the price goes up you automatically get more miners. So who benefits from 6666.66 Usd? The big miners do. It keeps the little miners out. This whole price thing is about mining not about charts. The price is absolutely controlled by the miners. They want the price to stay low while they stack coin. But stay high enough to pay the bills and overhead while keeping the public interested.
If the price goes to high you have an immediate influx of new miners. That forces the old miners to buy more equipment. The big miners want the price exactly where it is.