it is the question of supply and demand.
if people stop buying so heavily it could suddenly decline because sellers could be afraid of high price.
high price is good for miners with asics who invested lot of money. but if early adopters who are holding BTC since 2010 deceide that they could sell part of BTC because price is quite high (and that they would buy BTC back for lower price) and it will not be sufficient demand then price could easily fall quickly down to 60 again,
what happened to goods and services which you could buy for BTC? do we have 10x more exchanges than in January where you can buy BTC for USD?
why the price should be 10x higher than in January?
did unemployment decline significantly or do people get 10x bigger salaries or did USD dropped 10x lower so that in order to get balance it is a no brainer to buy BTC heavily for $120?
how many times price of stock/commodity return (even lower) to the state where it was before significant uptrend? how many times does the price stay relatively high without significant and obvious reason which could be seen easily by anybody?