i think the bitcoin value will increase because people realize the existing bitcoin and they know bitcoin can be another solution for the payment. but for being used for payment, bitcoin price need to be stabilized first so when people want to buy something, they can used bitcoin as fiat. without stabilizing the price, bitcoin is hard to reach economic because once the price is down too deep, the economic will be panic and the country will be in chaos.
Thank you for the informative answer, that all makes sense. So then a widespread Bitcoin usage would require near-zero volatility? How can that be achieved if most vendors/merchants are quick to liquidate to fiat?
yes bitcoin price require near-zero volatility to be used for the economic of the country. i think we are too far for used bitcoin as large scale of the economic because bitcoin hasn't reach a stable price until now and i guess we needs more years again. but i am sure that we are going to go that way and once we are there, we can see bitcoin will be as new currency for all country for their economic too.