Yes, bitcoin can go up much higher than the current price. Now the price had been moving downwards and now it had reached around $5700. Things happen unexpected and now this can be used as an opportunity to invest into different altcoins which are on the potentially growing track.
I think we should have to think according to natural behavior of bitcoin and keep build our realistic approach about things. Why we are still confused about bitcoin price. Everyone knows that it is the beginning stage of bitcoin and it will spread like a virus across the world. Like Japan mostly Asian countries would legalize bitcoin in their countries by the first quarter of 2018 positively because Asians are very rapidly joining bitcoin.