I have to say, it's looking like BTC is plummeting and I've no idea how it'll recover.
it will recover when there are more buyers than sellers. Supply and demand, my friend. Unfortunately at this time, supply is outpacing demand. I'm glad I didn't invest in mining equipment back in June around $30/BTC.
What would create demand is if the entire BTC community signed a legally-binding contract promising that each of us will forever accept, say, 0.00001 BTC as full payment for US$1 worth of whatever goods & services we provide; this would instantly "bootstrap" the BTC price to a floor of US$100,000/BTC, and make mining very lucrative (for a while), and millions of new people would rush into Bitcoin.