Yeah I mentioned this in another post but there's a catch-22 when it comes to Bitcoin. In order for the price to go up it has to be used (spent) but when the price goes up it causes people to hold on to their Bitcoin so they can cash out for the "lambo" or whatever.
Unfortunately the original intention of Bitcoin (digital currency to disrupt the financial status quo) is going out the window with all the speculators and people who see a get-rich-quick scheme.
My hope is that one day the price will stabilize and when people see that it's not skyrocketing (or plummeting) they'll be inclined to using it more than they do now
This.
Thus far, Bitcoin's main attraction has invited mass introductions to new users due to price spikes. We've seen the little effect that current media and news has on the volatility of bitcoin as compared to years past. Imagine an ETF announcement 3 or 4 years ago, only to have the decision not approved. I feel like years ago, it would have been DEVASTATING to the price of bitcoin, much unlike the recent small dip that the price took after the ETF failed to get approval.
I honestly believe that volatility will always be the name of the game with Bitcoin until more people start utilizing it. We are still far from mass adoption, and because of that, there are individuals and institutions that are able to manipulate the price. After the recent spike in the last holiday season, I think the FOMO and shakeout was enough to change the way that people view bitcoin. The ones calling it a scam are the ones that probably won't touch it again, but I'm okay with that. Those are the types of people that were just trying to get rich quick.
All in all, I'd say that you should expect to experience volatility, which I'm okay with. Why? Because I believe that at the end of the day, Bitcoin will pave the way for the answer to our economic crisis. Fuck fiat. Digital currency is the way to go, and blockchain technology will lead that revolution.
Mark my words... There will be a time where we won't be able to buy Bitcoin with fiat currency anymore, and I believe that this will happen in my lifetime.
Unfortunately, I still don't believe there to be a tangible method to decentralize the price of bitcoin.