After a bottom it goes up. We've seen this like.. 7 times now in Bitcoin's history. 99.95% don't own bitcoins. Hundreds of millions have now heard about them, mostly negative. It takes 12-24 months for them to buy. The first 1% of them is the next 500% of Bitcoin adoption, the ones who lift the price to $5,000 before leaves fall from the trees. If 5 million people invest $1,000 per person, they can buy 10 million bitcoins. That absorbs all the lonely Chinese and stolen coins, like many times before. There is nothing new in Bitcoin. Everything has happened before. It is a fractal. Before I even bought, it was explained to me.
Take a look at this fractal:
It compares
the bubbles of Oct2010 + Jan2011 + April-May2011
vs
the bubbles of Jan-Mar2013 + Nov2013 + May-Sept2014?
The top of the next bubble would peak around 100,000 USD/XBT at around end of September 2014 (6 months from now).
Edited: dates corrected (prebubbles were in 2010, not in 2011, and superbubble was in 2011, not in 2012)
You cannot have a 100k BTC right now or in a few months: 3600 coins produced per day x 100k each = 360mn USD per day just to buy the daily production. Not to mention all those who'll be dumping because they'll be rich from selling their 10 BTCs for 1 mn USD. Who is going to throw all these billions in the market?
For comparison purposes, daily mining of gold is at 7 tons per day (x40mn USD each = 280 mn USD per day to buy the daily production).