The fact is that markets, like in 2008, can become irrational for extended periods of time given the uncertainties of the factor that impact valuations. This is exaggerated when those factors like underlying assets and cash flows do not exist like in most cryptocurrencies. Even when comparing to other commodities, factors like weather and output are readily available to determine supply and influence price. However, none are available clearly in cryptocurrencies, therefore, it can go either way. I believe the current conditions will move it lower due to irrational markets so be careful in "trying to catch the falling knife."