kungfuian on 13 December 2014
There is almost zero chance it goes back up in price! They will announce how overwhelmed they have been by the positive response during holidays and/or how excited they are to continue to offer the best value to costumers for the next generation of gaming or something to that effect.
The official 'price drop' will come just before January 1st, 2015, keeping it at the $350 price and they will keep bundling it with some large game; likely a mix of older bundles like COD, Halo, and Assassins Creed and new ones with something like Evolve, Mortal Kombat, or Witcher 3.
Then at e3 they will announce a new $299 model.
