I`d just wait it out, it may or may not decrease.

But, its always a risk at buying when you dont know what its actually worth. Like how do you value a piece of network thats consider a money transmitter at the same time, and being comparable like gold.

I find it encouraging that the number of transactions has continued to grow exponentially, despite the price decline since the ATH.

As long as there is underlying network growth bitcoin's utility will increase, and so, ultimately, will its value.

Transformative technologies are overrated in the short term and underrated in the long term. Bitcoin won't need decades to hit 560k, it will happen much faster than that.

This would correspond perfectly with Martin Armstrongs theroy of cycles..

Interesting...  Sep might just become an interesting month.

I think your prediction was off by a few dollars

It is not nov 2015...

While I doubt we'll see such insane numbers one thing seems to be obvious Bitcoin can do some crazy shit.

I am not sure what [This] are you referring to? 560k target?
Points:

1. Armstrong's earlier graphs suggested a top at the end of september 2015 (but he thought it would be Dow 30-32K). later, he seemed to backtrack from the original prediction by extending the timeframe to 2016.
2. Nobody knows how bitcoin will behave when stock market declines. It might go up or collapse even more.
3. It seems that no financial analyst is able to predict both parameters: a timing of the turn and simultaneously a price.
Sometimes they get one right, but almost never both, so they and you can be right on timing, but wrong on price, making your investment strategy obsolete.

I am just an individual investor, but here is my personal example: I knew in 2007 (since about Feb-March due to HSBC subprime positions plunge) that markets would go down, but despite the subprime fiasco (Countrywide mortgages troubles, etc), indexes kept chugging upwards for another 7-8 mo and only started declining in mid October. The result-did not make any money by buying puts (was too early).

I do think it's probably worth owning at a minimum $5K worth in BTC... you never know. I like a lotto ticket.

It's going to be amusing if we'll hit THE bottom in November or December around 70$.
He would then be wrong by almost 4 orders of magnitude.

Then you shoud dump youre bag and buy them back at ~$120, what are you waiting for?