I honestly don't know. It should have crashed by now but hasn't. If it does crash it won't be to $2 again though since people will buy it up as it goes down, all wanting to get the next bottom. There's many people, including myself who wish we loaded the boat last time it dropped to $2. I think there's strong support in the 20s and 30s now psychologically, but that's just my own guestimation. Too many veterans are waiting on the sidelines to buy up Bitcoins when the price goes down and then there's a crap load of people who know nothing about investing who are buying since the price is going up (what most inexperienced investors do.) I've spoken with the owner of Mt Gox, a Frenchie living in Japan named Mark Karpeles (MagicalTux on IRC). He's done a lot to make sure there are no flash crashes like the last time and has done a lot of work to make the servers suddenly "work slowly" when people seem to be panic selling, if you catch my drift. He works almost 16 hours a day like me, so I believe he has a good handle on things THIS TIME. Paid CIA employees don't work that long and hard, it takes someone who really believes in the cause to do it. The real reason for the last crash I think was since a hacker fucked with the price discovery with the exchange site sending Bitcoins to the value of a penny almost instantly. Mark is the most important person in the Bitcoin community who has the most influence over price discovery. He's on the crypto-anarchist side too (I believe).

I'm hoping when the price drops next time people listen to guys like Chris Duane and they all hate Bitcoin so I can buy it. Just do the opposite of what these gurus tell you since they are almost always wrong. Typically the best time to buy is when no one wants something, and know one cares.

Personally I think Bitcoin will crash one day namely as Don points out that there will be a better cryptocurrency coming down the pike. My biggest issue with Bitcoin is how much damn data the blocks take up till your Bit Client is up to date. I think it's ridiculous and needs to be simplified somehow.