Give it time. I happen to think that bitcoin is still stabilizing. Whether it will stabilize at an even higher price than it is now, or "crash" and stabilize at a much lower price, I think it will eventually stabilize.
Isn't the point of bitcoin that its monetary supply is disconnected from economic activity? I thought the "mining" is supposed to be analogous to actual gold mining, so that increases in supply happen very slowly, get more difficult over time, and eventually cease completely. Obviously, many (perhaps most) people think that centralized government currencies (where the government can essentially increase the money supply at a whim) is the best system, but the point of bitcoin is to challenge that system.
Some people think the point of Bitcoin is decentralized detection of double spending and consider the deflationary goldbug mentality a flaw. One could imagine a decentralized inflationary cryptocurrency that uses a closed-loop algorithm to adjust the monetary supply (perhaps in response to difficulty, since the system already measures that). Of course, a stable exchange rate doesn't make speculators rich.
Right now a landgrab is going on. People want to hold some btc. At some point in the future, when everyone knows about btc and purchased as much as they want/can, the price will be more stable and grows only as much as new wealth is created by the global economy and new people are born.
