http://www.coindesk.com/downward-pressure-bitcoin-price-declines-to-near-400/Since the last few days there has been a significant downing in the bitcoin price.The chances are bitcoin hitting the downward value of $400 soon.
Merchant market affects
Danielli suggested that merchant adoption may indeed be having an effect on the market, an opinion that is now widely debated in the community.
These market observers point to the fact that though more merchants are accepting bitcoin payments, they are not holding these funds in bitcoin. Thus, they argue, the market is not attracting enough buyers to absorb these bitcoins on the open market.
However, Danielli took this argument a step further, suggesting that this influence is measurable when comparing bitcoin to the second most popular cryptocurrency, litecoin.
For example, he pointed to the difference between performance in the bitcoin and litecoin markets, noting that when bitcoin had fallen 7.5% during the days trading, litecoin had declined only 5%.