With all factors taken into consideration (demand, supply, hoarding, fake volume, pumping, dumping, hacking,):

It was $1200.

It is currently $496.

In the future it will trend much lower until or unless some kind of X-Factor has kicked in and takes it to the next level.

The two most recent Bitcoin bubbles have all involved it being used as a medium for capital flight. I expect more of the same at some point down the line. Exactly when, I couldn't possibly say.