HODL
If there were 10 Bitcoins in existence, and 10 people held 1 each, all of them hodling for eternity... What would be the value of 1 BTC?
I think a major problem is that people are hoarding, hoping that BTC will be 10'000$ by the end of the year and retire early. Fact is, without 10'000 BTC pizzas, we wouldn't be here. And if everybody held on to their precious coins forever there wouldn't be a point for calling it a currency at all. Currently I feel it's more like a collectible. Like stamps
The adoption is still too low in my opinion for that to be true. Bitcoin is in need for new people to get in, what these new people will do with their coins is another question that is not that important at the moment. A greed to hold therefore is not necessarily bad, because it attracts more people. A lot of them, including myself got interested in Bitcoin just because they saw a potential to hold and sell later at a higher price.