...but this ridiculous price bubble will destroy Bitcoin and probably all other cryptocurrencies when it pops. For 99.99% of the Bitcoin community this is irrelevant as you are involved purely to profit, you have no ideological interest in the underlying concept, but for those who are genuinely interested in alternative currency models it's a pending disaster.
The speculators will move on when it crashes, the winners will take their winnings and the losers will lick their wounds. The people left behind who are ideologically invested and not just financially so will find they've been left salted earth.
I don't think so. China is celebrating Bitcoin. I think that timing with hearings today isn't accidental. After the bubble, Bitcoin is much safer investment than it was ever before.