I can't see high end vintage cards falling 70%. With the creation of property holding companies that sell shares of portfolios (I can't think of the company name right now), I would imagine that these companies would invest in the dip, and that would prop up the price from falling back to $38k. Like another poster said, at some point it becomes a supply vs demand issue, and there are fewer high graded cards 7+ then there would be buyers. And the farther the price falls, the more buyers who would come to play.
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