$279-$280 may be a breakout zone for the next cycle. We've had a series of fake breakouts but prices continue to hold strong above $200.
The Wall Street adoption phase of started in early 2015 with the announcement of the NYSE investing in Coinbase. Since then NASDAQ partnered with Noble Markets, the Investment Trust has been listed on the OTC markets, Genesis Trading has launched, Winklevoss is pending and the BitLicense will be released.
Institutional investors will most likely be the catalyst for bitcoin's next cycle.