as bitcoin becomes more widely accepted -> diehard bitcoin supporters who refuse to sell bitcoin for $, now spends them on businesses who accept bitcoins to support them -> those businesses instantly convert bitcoin they received into dollar -> resulting in significant supply while demand remains flat -> price continues to drop.
for price to stabilize 1) business needs to hold the bitcoin they received and use them for expenses instead of instant sell or 2) price drops to a level that will bring on additional speculators (demand).
I see 2) to be more likely, we are far off from 1). Everyone goes nuts with conspiracies when in fact it's just simple logic.
Me? I just keep buying, spending $2000 everytime it drops $50. Plan to average it to <$1 if it comes to that. The eco system and everything fundamental is still intact, adoption has went up significantly also in the last year. I view this as a commodity like gold for now, currency aspect is uncertain ask me again in 5 years.
/shrug
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