The current situation is starting to feel a lot like the big run up in nov/dec 2013. But where are we at right now?
Hmm, using this graphic picture as reference, I would say we are in the "Mania Phase", at the beginning of this phase or at the end of "Awareness Phase". BTC doesn't have media attention yet (only alternative medias on the internet), there isn't much public adoption (few people in the world use BTC yet), if things continue this way, many more people will have interest on the coin, making us reach to the "Enthusiasm" event. Considering this, Bitcoin has a prosperous future yet, we are just starting, in my opinon, we are safe for now.
It's too early, I thought we still at Awareness phase where institutional investors and several region public users are joining in.
If we get media attention (not only alternative media), that would be in the next 2-3 years when the price has set stable price at least at $2000 and not drop back (fluctuate is normal). We are heading to bear trap which many, many users already intended to sell out when the price hit $1k point.