I couldn't imagine the price will touch at $1,800 plus I was wrong with my speculation past few days .. that the price can be stay at $1,700.
It was quite unexpected that bitcoin's price rose so high, we broke one record after another.
Market is exhausted by that amazing bull run, and price correction is the natural next step.
I don't think that bitcoin is overvalued in general, on the contrary it is still undervalued by several thousands dollar IMO.
Reasons behind present high price: Japan accepted BTC as a legal form of payment and the SECs announcement that COIN ETF will get another chance.