Bitcoin is not just some fancy virtual casino for you to play in. It's supposed to be a currency. For it to succeed at that, people need to build services around it. That is very hard for them to do when the price is all over the place. Large swings could cost them a lot of money or even make them illiquid. Without goods and services, Bitcoins value will be zero.

Bitcoins price rise is a process of pulling bitcoins from early adopters in a slow but steady process. Bubbles and busts, though inevitable, (especially when governments do stupid things) do not aid in the process.

I have nothing about speculators but realize there's a long game at play here for many of us.