Ok, I'm fairly new to bitcoins, having been trading etc.. since May of this year.

I'm reading all the speculation on here, and there are some things that are certain. The current price of bitcoins has zero affect on future prices. Just like stocks or commodities on the market, prices are affected more by external events than anything else.

Now since bitcoins are a currency, (to those who trade with them they are, so for our purposes they are), then things that affect currencies will affect bitcoins.

The speculation in China that bitcoins were going to be accepted by the central bank is what drove the really big increase to $1200 per bitcoin.

But, there is also another thing going on, the Ukraine has been in financial crisis for several weeks. And has just now agreed to a bail out from Russia.

I think these two things first China's central bank not accepting bitcoins, causing it to fall from the $1200 high, but then the instability in Ukraine has been holding it up in the $800 to $900 range for the past week or so.

Now that the Ukraine situation appears to be resolved, then I believe the price point will come down some. I wish I had that crystal ball to know exactly where that point is, as we all do I suppose.

I believe we will see prices in the $400 to $500 range, then slowly rebound.