The price is most likely going to fall below $1200 as the rise is insane. The only positive seems for MTGox that can again become solvent if the price reaches $2800-$2900 and they can pay their debts but as of now, only the recent speculation and hacks has led to the price rise from $1200 to $1700 now. Can't image bitcoin has increased by 70% in a year's time and the market is now having billions in trades.