Didn't anyone think that the market's irrationality is over and the price of BTC is now becoming more efficient and balanced? Maybe all the news, rumors and the economic need for BTC is reflected in the price right now. In short this is where BTC's price should be at.
I can agree with that. I think if you realistically look at all the aspects that have been, and still are influencing the price, then anything between the $650-$700 levels is what I consider to be a fair price. So in that regard, the current price can be seen as a more than welcome bonus for most of the people here. I however think it won't last long as I expect the price to dive below $700 before the end of next week. My advice is to either keep holding, or secure profits right now (assuming you are a decent % in the green of course).
I'm planning on selling 1 BTC right now as that 1 BTC was bought during the $300 time. So I'm going to just take my profits and hope it won't rise much more. If it does, I still have BTC left in my wallet anyways.
Securing profits when you bought your coins at such low rates as you have, is always a good thing. The only thing is that you should never sell everything at once, but you seem to understand this more than well it seems.
Why would the price of btc dip so soon when lots of countries are complaining of fiat devaluation?
You mean people are complaining, right? It's because the countries these people are from, have barely any importance that they can add to the market at current point. Other than that, a dip just below $700 is not that big of a deal considering the current price is still a little bit on the higher side.