Well i think we are currently in the middle of a correction.

This is going to come in phases. We have hit as low as $4050 i believe, and now it has bounced back up to around $4150. We may see a dump tomorrow that pushes bitcoin's price down to less than $4000 or $3900, even.

Price has increased to drastically in too short of a timeframe. Correction is needed for further pumps, but imo it might just stay around the $3500 level.

$5000 is indeed not far away at all when you look at how fast this has all happened, but idk. $5000 would bring btc close to $100 bil market cap which seems unlikely.