I and several others predicted that this was going to happen:

• The SRAs (i.e. the folks who found out about and bought into Bitcoin in June as a result of the Silk Road Articles) are getting bored with Bitcoin.
• The SRAs would have cashed out a few weeks ago if it wasn't for the MGH (the Mount Gox hack) which had them licking their chops at the thought of a possible "reset" of the market which would allow them to buy in at pre-June prices.
• As that didn't happen, the SRAs' boredom and inability to make profits on large margins because of the relatively stable $17 price since the MGH is now finally resulting in a slow but steady cash out.
• The price is now dropping to the point where even the faithful are losing their nerve and cashing out.
• Bitcoin will continue to drop, with possible plateaus at $10 and then steadily drop from there to around $3 or $4, if not lower.
• Throughout the drop media articles will detail the drop of Bitcoin, while Bitcoin zealots like TraderTimm, Evorhees, and Atlas will continue to post about the "great opportunity to buy" as they watch their anti-establishment dream disappear along with their significant investments.

Thoughts?