$300 is completely arbitrary. It certainly can go higher or lower. Price is based on supply and demand...period.
You're right, $300 is an arbitrary figure. That figure represents my degree of confidence in the strength of my argument.
If I thought Bitcoin had a bigger "value envelope", I'd have said $400 or $500...
You saying that "supply and demand determines the value of things" is not a valid counter-argument.
Please try again.
Ben