One has to wonder why the early adopters and larger players are cashing out? Why are they wanting out? Do they know something the rest of us don't?
The real question is why would anyone with a lot of bitcoins still be in.
People with lots of bitcoins would still be in if they expect the future price to be higher than today. Watch for mass panic selling if those with substantial bitcoin holdings independently decide 'this is as good as it gets' and decide to bail out while their bit fortunes are still worth something.
No matter how libertarian one's views are (and how much they detest fiat currencies), I suspect they would sell up now if they thought bitcoins would continue their slide towards parity with the US dollar. They can always buy more later on and enjoy even more freedom.