See the link for some answers to your questions. But realize that things got way ahead of themselves.
We are simply in a correction to the mean again. Not any crash. Not so far! And doubtful that will ever occur in our lifetimes.
Likely we trade in the $400 to $700 range for a bit, then either head back up, or further down, depending on how many fools rush in, or panic sell. Seems most don't have much of a clue but then their not traders nor speculators, much less serious investors.
Expect more of the same so called (and mislabeled) bubbles and crashes. Just realize their not really what they seem, nor what their labeled. But instead merely severe surges up and down, along the route to where ever prices finally sorta stabilize. But then deflationary type currencies wont ever truly stabilize for long will they?
Bottom line: This is just another bump in the road. Don't fret, don't panic. Merely buckle in for a wild ride, or get out and do whatever.
The bottom is likely already in, and if not then soon will be. After that it's either a time trading in a tighter range before heading back up, or maybe no time at all until right back up.
It may or may not be a whole day, or week, or month, or even a whole lot longer before we break new all time highs. Tough to say.
My guess, (and it's only an educated guess) is that all time highs are again reached within a single months time due to the dynamics of this monetary revolution called Crypto-Commodity-Currencies that is currently sweeping the world here and now. As the price drops many will see this as their chance to get in at a much better price level than ever before.
Much tax related selling going on now?, and 1st time purchasing too? So buckle up...it's going to continue to be a wild ride for years to come.
Log Chart (logarithmic)
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http://www.bitcoincharts.com/charts/mtgoxUSD#rg1460ztgTzm1g10zm2g25zi1gVolzi2gRSIzi3gAccDistzi4gMomentumzlGreat Live btc charts
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http://bitcoinwisdom.com/markets/bitstamp/btcusdFor headlines on what just occurred:
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http://www.cryptocoinsnews.com/http://www.thebitcoinchannel.com/http://bitcoinmagazine.com/http://www.cryptocurrency.org/http://thegenesisblock.com/Other News links:
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http://dollarcollapse.com/Caveat emptor - let the buyer beware!