Because 120$ is where we came from August 2013 - the real price.
That was a year ago. I realize you day trader types intentionally do nothing to read about the infrastructure or goings-on in the industry, but a lot has happened since August 2013.
Therefore $120 isn't the real price anymore.
-B-
ehm, do I miss something ?
All the news and goings-on since month now are bad news.
Bitcoin core errors
hackers
cheating, scams and bank / country bans.
So where is the invention ?