Bitcoin's recent price volatility is very large,
So in the end bitcoin price factors what,
Your opinion
Bitcoin, as well as most other cryptocurrencies,
has very little utility, so most of the price movements are the result of speculators acting on whims.
I agree with you especially on the part that Bitcoin's use case looks limited. With a maximum processing time of about 6 to 7 transactions per second, I doubt if much will be done once there's massive adoption over the world as a payment option.