When I saw it fall from $395 I thought it would be the top, until then I had no idea. At that point the volume to sustain could not be found. Right now I think we are in the phase of people thinking they are buying cheap, plus some whales who are trying to pump to sell the coins other whales dumped on them.

I think a big crash will be seen in China, as they are newer to BTC. They went almost $50 above Gox, and are now lagging. So consider getting on a Chinese exchange. I took advantage of the $1 difference in LTC there to get in.

So I guess now we are calling the bottom. There has been a serious amount of money put into BTC at prices above 200 and 300. If these people wake up and find the price is 250, there could be some serious panic selling, snowballing. However, to counteract this I think there will be a lot of people ready to catch the falling knife. If BTC were to continue a steady growth as from about July, we'd be looking at 120-160. So I think the bottom will be either a bit below or above this, depending on how frantic the panic is and how determined people are to buy on the way down.

In this spike we must have seen at least $100,000,000 come into BTC. If 25% of that goes on panic sells, it should fall to the mid-100 range.