I know this could be a very late response by so many days, but then, better late than never.

There is a lot of insight that you could get from Bitcoin.org's FAQ. Maybe reading them will certainly help. The FAQ has this obvious question which asks if Bitcoin is a bubble?

I liked the way how it begins, stating

"A fast rise in price does not constitute a bubble. An artificial over-valuation that will lead to a sudden downward correction constitutes a bubble".

It continues saying there are so many reasons as to why the market price could increase or decrease like reasons for a drop could be

1. Loss of confidence in BTC
2. Greater extent of difference between price and value due to misconstrued assumptions not based on BTC's fundamental economy
3. Increased press coverages
4. And most importantly, irrational excuberance and Greed

Somewhere I do feel we have all been a part of it for people to call it a bubble. What was meant to be a revolutionary digital currency has become the most fancy and lucrative commodity of trade. True, I accept currencies are traded in real life as well, but this has taken it to a whole new dimension.