Depression, my ass. Volatility is given, for the next 5-10-15 years - either until most BitCoins are mined out or the US Government calls it legal tender (probably the former will happen before the latter, but I'm wishful...).
What's not to lose sight of here is that even if everyone in the country buys 10 BTCs, and just hold on to it, it will do far more for BTC than any 'depression' or upswing or whatever....
BitCoin is looking for an all out adoption. This is going to take decades in the USA, and probably a lot lot faster elsewhere, especially third-world potato/cabbage countries.