I always say, supply & demand + being on TV news about another "record high" will draw lot of it to sky rocket it up even more, for all the newer investors who want in on it as well. Back in May when I would keep seeing people talk about other coins and on youtube video comments the popular ones that is for them. They did very well today. It's like a search in popularity among those users.
You don't have to be senior on here to have wisdom about how things work. You've demonstrated you know how things work!
Your point above is spot on. And it's the being on TV news or hitting a new record high or the endorsement of Bitcoin by the President of Belarus or the China declaring that bitcoin exchanges are illegal that influences demand...positively or negatively.
You should look at the major currencies, with their coin supply and then compare prices to come up with a comparative ratio that shows if crypto prices are under or over valued based on coins supply.