What are your theories then ... ??!?
If you guys thought Bitcoinica is\was good for BTC, then you are the tards!
First of all, just because the price rises some time after Bitcoinica goes offline doesn't = causation.
Second, the price didn't move up for a couple weeks after Bitcoinica went down.
Third, Bitcoinica allows speculation in
two directions: up and down. Even though you can't short BTC now that it's gone, you also cannot go long at 5:1 margin. MANY people used Bitcoinica to buy heavily on margin, and they can no longer do so. There is no reason to think the net effect of Bitcoinica is "up" or "down"... it probably changes day by day based on the specific balances of the individuals currently placing their bets.
The reason Bitcoin's price is rising is because it's the most revolutionary monetary technology ever invented. One should expect it to rise in price, and not much explanation is needed beyond that. People are realizing how healthy and resilient Bitcoin actually is, and so they buy some. Bitcoinica would only ever be a minor influence at any given time, and could be either positive or negative on the price.
