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

• The SRA's (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 SRA's 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 buy in at pre-June prices.
• As that didn't happen, the SRA's boredom and inability to make profits on large margins because of the relatively stable $17 price since the MGH is no 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 plateuas at $10 and then steadily drop from there to around $3 or $4

Thoughts?