It's a pretty simple concept actaully. The price of anything you wish to buy is a function of your own perception of "value." Most of the bitcoin advocates say >>> "Bitcoin can't be in a bubble because everyone who I talk to about it has no idea what bitcoin is!" That of course is immaterial to value. If everybody who wants something already has it, then price will react to the downside. It doesn't really matter how big the pool of investors/buyers is. Sentiment indicators tracking bitcoin prices were predicting a move lower for weeks now. When price dropped to $1880 as the low over memorial day weekend, and even the local bitcoin price technical anal-ysts didn't get their buy targets hit, even they capitulated on teh frenzy to $3000. If I was a first time buyer I wouldn't even consider buying a single coin until 90% of the commentary on the steemit blogs is a steady stream of sheeple boohooing their misfortunes. Then you will be investing solely on "sentiment"...buy when people are crapping their pants. Sell whenever Dollar Vigilante is breaking out the champagne and cigars. :-)

Dollar Virgil going to get people absolutely crushed over time. It's one of my main missions here. I will single-handedly take this clown dooooown. You can follow my spews about future price of bitcoin at my blog. I update when necessary. Currently still holding a "maxi" short position.