You are right about the "more to it". I try not to confuse things for my readers so I keep it simple. Perhaps 5% or 10% of the rise is attributable to vanity buyers, (you can see some other people's blog about the movements in and out of steempower).
Whenever there is a change in trend, investors start to anticipate the future. That's what accounts for the other 80% to 90% of the price move.
Investors are stepping in, taking a position, and expecting the trend to continue.
I made a little post about you. It was inspired by @everlove and i hope you check it out. Just something simple and only in appreciation. https://steemit.com/untalented/@olawalium/thank-you-for-being