At some point, the general consensus becomes "this thing is going up way too fast. it's going to crash".

I think we've been there for a few days.

But then, it keeps going up... Maybe it's disbelief that the super obvious thing ("we're going to crash!") could be so obvious, and yet it still hasn't crashed... this creates doubt, so we wait a little longer, unwilling to take the plunge of cashing out. Maybe we do sell a few coins, but not all of them...

At some point (I think we are there this weekend) the only people buying are the crazy people (who trust their BTC/cash to these somewhat shady exchanges) while the more sober of us sit out and watch bitcoinity in disbelief. A lot of these people probably sold already, and are buying back in at a loss, because they're crazy.

BTC is now at $4B market cap. These tiny exchanges did not get $2B in cash deposits in the last few weeks. It's just a small group of crazy traders driving this thing up, and once enough of them panic, this thing is going down hard.

I wish we could get a meme going, like "the moon is $400!", so we could make this crash happen sooner and not cause as much damage as the last one.

But yeah, it's going to crash. Very soon.