It's a cycle of the price rising, and rising until it's above the threshold for many of "this is so much money I can't sit on it". At which point many sell, and

It's a cycle of the price rising, and rising until it's above the threshold for many of "this is so much money I can't sit on it". At which point many sell, and everybody remaining wait for the next cycle to start, which is huge swaths of people purchasing a now smaller part of the pie, but that can still double in value in a single cycle. Also anybody can wait a few cycles to sell, which is why I think the price will not collapse from market forces.