... Might this mean that BTC price isn't carried by Silk Road, i.e. we AREN'T still in 2011?
And according to some bull/bear schizos on here, the "speculators" have left, interest is down, and BTC is headed for the doldrums.
So if Silk Road is down, and "the speculators" "have left", and price is holding... major bullish, because it means price isn't based on drugs and wall st. wannabes, according to the bears' own arguments
Ashley, don't be silly, I've been telling you forever the price is solely based on speculation and not usage or adoption. Right now my best guess is it is being used as a temporary cash store in hopes of good news later on. There is nothing surprising here at all.
Also Silk Road has had on and off issues for a long while so it will take more than 3 days to lose confidence. If MtFUX didn't bring BTC down to double digits that shows the irrational exuberance is still at an all time high. I've predicted a slowly downward trend for a long time although a panic sell based on possible news scenarios wouldn't shock me. Once Silk Road comes back who knows another irrational bubble as I first was thinking. I figured it would be up by today though.
EDIT - Also those with BTC in silk road can't panic sell currently their Bitcoins are gone unless the site comes back.
I don't want to spread FUD (just trying to use logic) but the longer Silk Road is down the more I worry a big cash out when funds do become available.