we see bitcoin today experiencing high fluctuations below and will always drops, probably going back to the point of $ 4500. but if I look with bitcoin stock today which a little again $ 3.5 million , then this condition is not normal. because it should be when bitcoin is scarce, then price and value will quickly rise and higher. but today why down? do we have to wait 1 million bitcoins?
It is hard to understand the question, I think you are asking why the price is not rising even though the current bitcoin in circulation is 3.5 million?
Volatility in the crypto market it is happening since it was opened to the public.
You are also taking about the scarcity of Bitcoin, probably there are less supply today but remember it is not also the supply but also the demand. There are less people right now who buys Bitcoin since we are in a bear market.