Ezra Klein makes an astute point:

The occupation of Zuccotti Park was always going to have a tough time enduring for much longer. As the initial excitement wore off and the cold crept in, only the diehards — and those with no place else to go — were likely to remain. The numbers in Zuccotti Park would thin, and so too would the media coverage. And in the event someone died of hypothermia, or there was some other disaster, that coverage could turn. What once looked like a powerful protest could come to be seen as a dangerous frivolity.
In aggressively clearing them from the park, Bloomberg spared them that fate. Zuccotti Park wasn’t emptied by weather, or the insufficient commitment of protesters. It was cleared by pepper spray and tear gas. It was cleared by police and authority. It was cleared by a billionaire mayor from Wall Street and a request by one of America’s largest commercial real estate developers. It was cleared, in other words, in a way that will temporarily reinvigorate the protesters and give Occupy Wall Street the best possible chance to become whatever it will become next.

The National Lawyers Guild, a group known for its leftist convictions, has been fighting on their behalf, and it seems reasonable to assume that the encampment will reestablish itself.