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[tangential] The price of Bitcoin has been dropping significantly in the past few weeks, and dropped below $300 yesterday. I've read many theories as to how this can't happen, but it is. What's going on?
The entire market is based on speculation right now, as well as being small enough for a few big players to significantly move the needle. This is a combination that means that one or two people can cause a drop, which causes a mass sell off (the inverse can happen too). Of course, this is a "just so" story... the reality is more complicated.
Point being, you won't be able to predict bitcoin prices until bitcoin as a payment network and store of value overcomes bitcoin as speculation.