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It doesnt really matter. It can reach 1$ for all that i care, what matters is that the moment it hits floor it value will start skyrocketing, for the simple fact that people will see its the lowest value and will go buy buy buy buy.

It's easy to say the bottom has been reached at $1 but when will we know the bottom is reached as the price continues to drop? This big drop definitely has scared away some buyers...

The bottom will be reached when it stops dropping and starts rising. From then on, the sky is the limit.