The first sell of was in 2011 and teh big one was two weeks ago so obviously we're at return to normal.
This shit is going to fall hard within the next few days. Bitcoin hangs from the thread that is mt. gox. If anything at all bad happens to them, the whole market is fucked.
All the local people contacting me to buy bitcoins seem to think differently. And this is rural West Virginia, where 98% of people are still stuck 30 years in the past. MtGox isn't that important.