QUOTE(garywelsh @ Mar 24 2014, 10:46 AM)

What I am now confused about is all these other similar crypto currency that has been flooding the market recently. Will the cause this market to destabilize, that is now the question...

Nobody will take the new currencies seriously. The only real ones are bitcoin, litecoin and perhaps doge in the future will be good enough- only time will tell.
Bitcoin market price is greatly influenced by the traders who are looking to make a profit because there are not nearly enough merchants out there accepting bitcoin payments. So the market movers for now are the traders...
If more merchants start accepting Bitcoin the price will stabilize and it will not be so easily disturbed, but bitcoin price itself will not crash just for no reason. If it were to crash then only because the traders influence. And this only makes it a good time for buying bitcoins
