If you're a beginner bitcoin investor this video is for you, pretty solid links to content from all the top Bitcoin personalities.

https://www.youtube.com/watch?v=WtKMKKnBX-Q

Also, Digital Gold is a must-read even if you think you understand bitcoin

Good points, and I think we were on the same page with buyers vs. sellers, you just phrased your argument better. 

One thing you brought up is merchant adoption, is that really necessary at this stage?  Bitcoin is the best currency for store of value, but everyone knows its weak as a medium of exchange.  Gold also sucks as a medium of exchange.  Is there a healthy path forward for Bitcoin without short-term merchant growth? 

Not quite, he is saying that it depends on # of buyers vs. # of sellers at any given moment.  Speculation creates value, and this in turn creates more demand, mainstream media attention, etc. A fast run-up in price doesn't make a bubble. Bitcoin has and will continue to attract media attention and more of the general population.  It's healthy to have these waves of price increases, it means that the media is influencing a larger number of people and turning them into buyers aka demand-creators

Yes, so the video briefly goes over the pricing aspect too. Currencies are a positive feedback loop until one of two situations: widespread acceptance or obsolescence.  There is no equilibrium middle ground for similar currencies.  The ones with more support prevail in the long run. 

Pretty good points about the current valuation and prospects for rising bitcoin values!

https://www.youtube.com/watch?v=4bSLCQ1P0CU