Except: we have very recent prices to go by, beyond $266 yes you would be right to be very cautious, up to then we have history.
I don't think that figure is at all reliable! It was a bubble, and that always happens in bubbles. If we look back to 2011, the price inflated to USD 30 before dropping back down to USD 10. Then it took almost a year for it to climb back up.