I think yesterdays BTC price collapse was down to decreased volume when one of the exchanges went down. It is still fluctuating but I think it is normal when you get rapid growth? I'm continuing to watch though.
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Yes rapid growth without correction is dangerous, I am happy with what happened yesterday. It will give bitcoin more confidence.
For sure it suggests a bubble because it just isn't natural, there will always be reaction and resistance to every movement (under normal conditions).