Sellers are already insisting on higher prices, if you look at the open orders. The problem is that buyers aren't buying. The problem is that people aren't interested or are starting to be afraid of BTC. People who bought BTC or invested in hardware don't want to lose their investment, while the few people who are buying just want to make money fast.

Bitcoin hasn't been widely accepted so as to be directly useful to most people. Most people haven't even heard of Bitcoin. Anyone who read about Bitcoin and bought some Bitcoins is probably going to be alone. You can't go around convincing people (in your real-life social environment) of the validity of a new currency, when you are apparently the only one who accepts it or even knows about it.

I just noticed the bunch of Chinese students that joined the marketplace here. Obviously, it's because their teacher told them to. Maybe this is the kind of status that Bitcoin has in the real world? A "currency" for little kids?

This is still just a game with numbers. Winners being the creators and early adopters. If the drop in BTC price continues, some people will start referring to Bitcoin as a "bubble".