Well, last night's low was $208. Around $220-$225 now.
As I point out occasionally, the two Bitcoin bubbles were driven by external illegal use cases - Silk Road drugs, and China exchange controls evasion. Both of those holes have now been plugged. Without a new use case that provides a similar boost, there's no reason for Bitcoin to have a value much higher than it had before the Silk Road bubble.
..and what about trader bots Willy and Markus on MTGox?
Ya reckon 800'000 BTC worth of fraudulent 'bullish' Bitcoin trades didn't have a huge impact on the market and the price action, especially back when MtGox accounted for over 90% of all Bitcoin trades.
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That aside, I have to shake my head in disbelief at the "double digit coin can't ever happen' brigade. As exocytosis points out, such drivvle has been proclaimed on these forums all the way down for $1200 Bitcoin.
Going way way back, I always suspected that Bitcoin would bottom out somewhere in $200 range (I have been proven wrong on that already) and this was the price point that I was going to bet the house on Bitcoin. Yet here we are, right in that lower $200 range, and am I piling every spare ounce of cash I can get my hands on into Bitcoin? No! And why not? Because in the fullness of time, Bitcoin will go lower than $200, and lower than $150, and possibly lower than $100, and when the bottom is finally in, it will take a very long time for the price of Bitcoin to recover.
