Bitcoin: The $14B Primative Crypto Currency
There will be better alternatives that people will use instead of bitcoin.
Bitcoin does have unique advantages including its widespread usage, and including ability to send funds across borders inexpensively.
However, its limitations (eg. unclear regulatory frameworks, unsafe wallets, and slowness in funding) make it very susceptible to better alternatives.
I do think cryptocurrency is here to stay and I think this innovation will be adopted with more credible financial and regulatory backing.
Once the currency falls below $800 there will be panic selling because $600 is the next support level.