The problem the price is obviously strictly related to the fees and confirmation times. If the prices goes up, everybody wants a part of the profits and buys in. That causes an even greater demand and an even higher price. At this point, the load on the network increases dramatically which causes both longer confirmation times and higher fees. This continues until the network is overloaded and then the only transactions will be of new people buying in. Of course at this point, the slightest price drop becomes a big fall as people stop buying in and the trading volume decrease drastically. That's why a very sharp bull run like last year's is bad in the long run. It's better if the price increases more slowly without creating too much pressure on the network.
Of course this will probably never be the case as the big whales interests are different from the rest of the community but that's another disscusion.