I think it would depend heavily on whether the elves and unicorns saw fit pull their BTC out of the market for long term speculation.

Certainly the market cap could support such a sale, perhaps it would bring a lot of the hobbits out hiding to attempt to sell their BTC hoping to make 10's of thousands per coin.

Snuffleupagus could have unforeseen influences, he might be in cohorts with el chupacabra, I think they may be holding a lot of BTC and want to depress pricing to buy more.

Not serious comment about influence of imaginary market forces.