The bot may be partially responsible, but peoples greediness and unwillingness to part at 2x profit was the major reason for it actually going as high as it did.
Well let's be honest, if I wanted to make a 2x profit i'd go back to selling junk on ebay. I'm here for the 100x-200x potential profit in the long-run.
People can call it greed, I just call it investing. I wouldn't call it greed at all. Just
smart investing. Who in their right minds wouldn't grab a chance to make 100-200x profit, you would be silly not to. Days of selling on ebay and making anything is far off in the past because of high delivery costs and all those extra seller fees. Not one of those issues when putting into a cryptocurrency.