Floor support of last bubble (end of 2013) was 500 as predicted by the
www.BitcoinAlgorithm.com so when ever it gets near 500 or a little lower it will come back just based on broad amount of users now that support the $500 floor.
Next major bubble is 10K peak and 5K floor support and as the
www.BitcoinAlgorithm.com explains, it is entirely dependent on one thing, the real core user base growing from 700K users (end of 2013) to 7M users (projected users end of 2014).
My Wallets info on BlockChain.info seems to be a decent approximation of width of user based and you just need to create a percentage of user base as a fraction of total population then take that fraction and divide into GWP then divide by 21M bitcoins and you have a floor value to bitcoin that IS REAL and based upon real economic data and not just news and dumps and buys.
Any major news today to drop btc 7% today, 625 latest range so 580 was 7% drop and it recovered half in same day.
Were any wallets moved today?
Someone dumping a position maybe since value growth has been flat a while now.
Maybe a short term investor looking for huge growth and dumping after short ride??
The floor was 500 end of 2013, the floor should be 5K end of 2014, as you all know when btc moves up, it jumps REAL FAST, and that jump will happen soon.