Apart from mining fundamentals, the market is mostly being driven by emotions right now. This is not a trading idea, but a trading question; if this is mostly emotion driven, what makes the most sense;
A 50% drop, and a market that could take a long time to bottom out. (less opportunities for traders) Or a 100% climb, leaving a lot more possibilities open for trading. (more opportunities for traders)
This is still a traders market. Price doesn't matter as much as some people believe. The volatility matters. Trade accordingly.