It's a step forward, but not the main factor.

The thing with speculation is that it all comes down to how undeveloped Bitcoin's market is in several ways. It requires proper regulations and a set of rules similar to how stock exchanges operate. If regulations manage to set the foundation, big money will enter the market and provide the liquidity this market badly needs.

Eventually, and I do believe that this will happen, there will only be one single global market. In other words, there won't be exchanges each operating their own orderbook anymore, but they from that point will solely function as broker, just like how stock brokers operate. It's the only way to actually iron out the volatility as much as possible. If on top of that Bitcoin has been adopted to such extent that there is no more room for astronomical growth, it will contribute to even more stability. If Bitcoin eventually becomes what Gold is right now in market terms, we can say that this is the most we can expect from it.