It will become saturated when the demand starts declining. For some reason there are many people looking for buying Bitcoins now, I'm not sure why, maybe segwit upgrade? In my opinion the price is increasing too much and too fast, it's not normal... So expect a drop any moment soon. How farther it wil go it's hard to say, last time we have seen drop by $1900, that was a lot. Could it happen again on the same proportion?
You are not sure why? It is because Bitcoin is on every damn news channel around. The media has gone to town about the crazy returns in Bitcoin and a lot of people have become interested.
Seems the media interest on this is just a consequence of Bitcoin price and not the opposite.
If the price wasn't so high and increasing fast the media wouldn't be talking about it a lot.
Precisely. This is the first indication to me that bitcoin is saturated.
Even though it corrected from $5000 i think that the price is still artificially high. Media covered bitcoin because of the price went up, and this sort of sends a positive feedback loop. This cannot continue forever as there is only a finite amount of money in trader's pockets that can be used to buy btc.
I think that we'll still see some further adjustments from the current price level. Don't forget that a month ago we were at $2700, and that was very high already.