The sell side is starting to move the price down, it pretty much had to happen as fundamentally there are new BTC entering the economy all the time and some of that new money needs to be exchanged to cover the costs of production...the non trader types on the forum have to realise that the exchange rate can be very volatile as there is very little real need and thus demand for BTC.
until Bitcoin stabilises at least a bit, the demand won't grow, nobody wants to deal with a currency that fluctuates 10x more than stocks
Actually 10x fluctuations can look very attractive to traders as there is clearly opportunity for easy money, but from a mining point of view with its fixed costs etc its frustrating, miners in the real world are able to forward sell production and or enter currency hedging arrangements to smooth out the price volatility of the commodity they mine...BTC miners at the moment have no such luxury...and there's another opportunity for someone or a group of people hoarding BTC to set up a futures market so the miners can hedge a little production.
