I use cost of mining hardware to gauge the direction of a correction.
People know that Miners are hardcore into BTC and tend to get the loans to invest in hardware that in turn gets put back into the bitcoin echosystem.
Here is a recent offering from a manufacturer that is working with Samsung to create ASIC's in one copacity or another.
Expect new hardware to come out of this.
Pay attention to the argument that is it better to buy BTC now or buy hardware and accumulate BTC at a loss?
There are many reasons for these devices. Perhaps obligatory contracts and these help replace end of life hardware.
Here is what it would look like if BTC/USD was at $15,000.00. From what I can see buying BTC at this low rate vs hardware purchase of this type makes business sense.
UPDATE: Here is the document for reference.
https://docs.google.com/spreadsheets/d/11QS1BBV11KNGTF8N_-fdfmjTZ3WzPQFbLfVrl5n6R8s/edit?usp=sharingBTC/USD 15000 NETWORK DIFFICULTY INCREASE OF 10% FOR 6 RE-TARGETS.
BTC/USD 8500 NETWORK DIFFICULTY INCREASE OF 5% FOR 6 RE-TARGETS.
^ updated to reflect proper name and other purchase options,
Update: Nothing in the this post shall constitute or be construed as an offering of financial instruments or as investment advice or investment recommendations (i.e., recommendations as to whether or not to “buy”, “sell”, “hold”, or to enter or not to enter into any other transaction involving any specific interest or interests) This document is for awareness and at the users discretion for educational purposes.