You are right about there are more factor however bitcoin is stable itself what the unstable is the price. Only the price makes everybody crazy about bitcoin. As a matter of fact almost everyone dream to have bitcoin even a little. For me bitcoin is not stable in terms of price for bitcoin value will probably increase.
To elaborate, once people begin seeing bitcoin as the lucrative long-term investment plan it potentially is, more and more investors will come in, thereby stabilizing bitcoin price dramatically. Garnering this interest from investors is, however, an uphill task.