Yes. That spike on May 10 now looks like it was purely technical. All the TA traders looking for a breakout, but the fundamentals hadn't changed to support it. Fair price at $115 until more news and major investment.

And what happens if we do tank?

The price will probably go down to sub $50 levels and eventually rebound after a period of consolidation.

It will be a very good buying opportunity but calling the real low won't be easy as there will be many lows with 'bounces' on the way down.

Or to spike the price with a market order, wait till it peaks, then send it crashing back down with another market order, hoping it overshoots $115. Someone's trying to get $105 coins

Cheap coins 

If 2011 did teach us something, it's there's always cheaper coins. 

I wasn't there but I can just imagine how people were so happy and falling over themselves to buy shedloads of BTC at $5, $4, then $3, then whoohoo $2!

Nonsense. If 2011 taught us anything is that there's a window for cheaper coins, and if you miss it, you've missed it.