just look at it with inflows and outflows... that late fall runup was a perfect storm of China, SR going down & Coinbase allowing 10BTC instant payments.. and the climate still had USD $$$ flows into BTCe & Gox pretty easily
then what happened?? China got prudish.. Coinbase crimped instants by 90%.. AML/KYC enforced everywhere which slammed the door on BTCe & Gox while lots of merchants cropped up to take your bitcoins (Overstock/TigerDirect)
Anyone who thinks this has not been the driving factor of price is on the wrong side of the trade
Until there are 10x more Coinbases to bring back that level of instant inflow plus more exchanges that can take USD $$ without too much hassle then you can get $1000 again
I am not even sure Wall Street can prop up the price until the instant flows are back to last fall levels
Great post.
One of those rare times when I feel I actually learned something from someone on here.
You realize comparing Coinbase to MtGox is like comparing Porsche to GM, Porsche is a wonderful company but they can't impact the auto market like GM; likewise Coinbase cannot impact the CC market like any of the top 6 CC exchanges.
http://www.cryptocoincharts.info/v2/markets/info