My suspicion is that miners are hoarding most coins right now because they can cover their energy costs selling just a few. We will see difficulty increase until it becomes self limiting and once all miners are forced to liquidate to pay for electric costs the price will crash as their is no way that people will put a half million dollars a day into buying newly minted BTC, the amount necessary to sustain the current price.
Well-said, well-said... This goes to show that miners don't really have an incentive to hoard bitcoins beyond the GOLD 2.0 era we are currently in. If only we had figured out how to make the best use of that era in creating a bitcoin economy that doesn't have to rely on fiat currencies for commerce transactions?