my thoughts are that SO many people have now lost money during the last year and a half "bear market", that none of those people dare put another dime into btc. Probably a lot of those people are out, and wont be back. Meaning the total number of those in the btc market is declining. That, combined with major exchange hacks, lost coins still not being accounted for, and NOTHING on the horizon for good news, means people are holding out, and may never get back into btc.
You could be right. I also believe that many people who bought in at higher price might have lost patience and sold the rest of what they had. And although we have good news, VC is increasing, it's not enough to gain some momentum to raise the price and hold it on a certain level.The lower 200s seems to be a level we still have to deal with for a longer period of time.
Don't expect any bigger increase in price until the block size debate isn't finished. Investors, big investors won't risk their money if they don't see a healthy network that goes in one direction.
Also smaller investors that buy 1 or 2 BTCs now or then won't be buying at all while waiting that prices drops because of the unknown status that is currently in the community. Why would they pay more if they count that the price might drop in a few weeks.