The price is dropping because:
- Early backers are leaving
- no new money coming in because basicly all news regarding bitcoin is bad currently

Furthermore there is a lack of interest in bitcoin for the general public. There has been a drop in volume for months already.
The volume of bitcoin is about 4 times the volume of litecoin, but it's price is 43 times higher, so something is seriously wrong there.

I found the volume, or lack of it, can be a good indicator for the future price of coins. I watched it happen to enough "promosing" upcomming altcoins, when the volume started to drop the price would follow.

Sudden rise in volume usually means an upcomming pump or dump. Or a pump followed by a dump.