The market cap isn't the stat to watch on BTC- the daily volume is. With volume at something in the low millions of dollars it'd be very easy for the currency

The market cap isn't the stat to watch on BTC- the daily volume is. With volume at something in the low millions of dollars it'd be very easy for the currency to be manipulated by dollar-based traders. There's not much evidence that there are large deep pocketed investors who will toe som imaginary line in the wake of a retail investor sell-off. Until volumes pick up the daily price ont he various exchanges represents the valuations of a distressingly low number of traders. That said, I think bitcoin is super exciting and want to see it succeed. But it needs to be much more heavily traded, regardless of its dollar exchange rate, for that to happen.