We are close to, if not already at the new paradigm level. The correction from yesterday could potentially be the first sell off, and the next pump may be the bull trap coming in. Obviously it is hard to judge but this is what i think is happening.

People are saying that this is not a bubble and others are predicting crazy growth for next year. I think this is a very clear indicator that people are extremely greedy right now, and when the mania ends the price will correct down to at least $3.5k.

Also, for anyone interested, goldman sachs predicted that the price of bitcoin would top at around $4800. They seem to be reasonably accurate looking at it right now. I think that the prediction by goldman sachs caused the sell-off at near $5k, rather than the other way round.