With the news of Paypal adopting bitcoins I'm waiting for the beginning of a new bubble.
The time it takes for the average Bitcoin user to first hear about it and then purchase some initially is long period, long enough that I expect this news to not impact the price until the end of the year. Eventually though, all of this good news will build too much pressure, and another adoption phase will trigger price growth. Once the average investor understands Bitcoin as an option
and realizes it is in limited supply and increasing demand, the damn will brake. That is when many larger markets will enter into the currency and we will stat to see gaudy five figure valuations for a Bitcoin.