It started with FOMO (fear of missing out) buying when everyone had "we buy gold" signs in their windows.
Once the buying faded, Gold shills like Peter Schiff had an "oh shit" moment once gold broke key support at $1,550, which was the signal of a change of the long-term trend.
Gold's been in a consistent slow downtrend since 2013. Even though it's bearish, I've been SLOWLY buying some gold starting in 2014, but waiting for sub-1,000 prices to load up.