Panic and hype are cousins, they both appear every time BTC moves alot so its a good idea to get fully acquainted with the motivation to buyers or sellers.    BTC gets into inaccurate price movement and then people can overreact as the price is solid and totally accurate, the market plays them and we can lose out.
  I dont feel BTC is anywhere near a hype phase just yet but it will happen for sure I reckon.