On a microlevel the cost to mine a single bitcoin puts an upper limit on the price. Consider that. If it goes to 20,000$ a coin again many will decide to start mining so they can get the coin at cost. The cost goes up as people get into mining so it is a ceiling that gives way on a macro level. I think with the newer hashing rigs we are seeing a more competitive cost to mine, which lowers the price. The lowering price affects the mind set of the majority who buy high and sell low. This effects the speculator. This doesn't affect the users who price things in USD and convert for each use.