I believe BTC should be in the $150 range. There is nothing to support any higher of a price.
What makes you say that?
Because at this point there are a lot of exciting projects in the works for BTC. Key word in the works. One ATM and a letter from Bernake saying BTC is legit and we can't really regulate it doesn't make it worth $600. I am willing to place a value on the speculation of what could happen but until it does it's not.
Look at it this way; If I asked you to invest in my company that had some great projects in the works that will make us billions would you give me a billion dollar valuation right away or would you want to come in at a more sensible valuation because we are so early on? You're not going to make an investment based on what it could be, you will invest on what it is.
How about if that company had developed a universal cure for cancer with apparently no side effects and just had to go through FDA approval and marketing?
I agree. Saying its "In the works" does not mean it shouldnt count.
Also, down we go?
Some things are worth what is perceived as their potential.
Otherwise - why did the Twitter float raise so much. Whatever you think of Twitter it is only an 'app' and it has NEVER made any money.
Bitcoin is a potential world currency - it is way more important than an 'app'.
Do they have US Senate hearings about Twitter?
All price guesses are beyond easy prediction, however BTC is the market leader in the potential future of a new paradigm in the world of currency. Yes - it is massive win, or potential fail - but is not worthless.
Potential has a price, or why would anyone bet on sport, shares or anything with no truly solid tangible value?
I don't think Bitcoin is going away, it is potentially truly massive in what it can do to in terms of changing the game of the entire world's money and means of exchange.
It may not be the only decentralised digital currency - not even the best.
But it may well be the first that makes a difference....
Thanks for sharing. 
