I wonder if one factor with the current bubble is the difficulty in cashing out because of withdraw limits at exchanges. There are still a lot of early adopters/investors sitting on a ton of coins that are very difficult to actually sell. For example, MTGox has a $10,000 USD monthly withdraw limit. If you wanted to sell $1million USD worth of bitcoins it would take 8 years to withdraw it. I'm thinking this could be preventing a sell-off and once those limitations are removed, I expect a major correction. I honestly wouldn't be surprised to see it hit $15/BTC at some point once these sorts of restrictions are removed. Right now I suspect many are only selling as much BTC as they can withdraw which artificially limits the supply since I suspect there might be a lot of people dying to sell right now.
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One doesn't need Mt Gox to sell $1M in btc. One just needs to find a buyer. Meet in person to exchange, or wire money to escrow. 8 years to sell through Mt Gox? Let's use our imagination just a wee bit.
And I seriously doubt that Mt Gox monthly limits are what's limiting sellers right now. You don't sell in masse into price appreciation. The herd sells on the way down. Who's had time to even think about selling in the last 4 days. It's shot straight up. This said, I'd really like to see a move back to the $50 range, so I can exchange fiat for btc at a much more favorable rate.
