no way 
The price has been below $400 for 4 days now. Everything is possible in the bitcon world. The price is too volatile.
i am sure that if the whales want, they can get the price above $400 again without a problem. the price is being held down at the moment. the reason for that could be that some large traders are accumulating coins.
Yes, there are lot of people buying bitcoin right now. But I do predict it will bounce back very soon to $400 to $450 levels within this week end also. There are continuous new money inflow is seen across exchanges.