It's probably more because of people choosing to hold their coins:

https://www.bloomberg.com/news/articles/2018-10-31/only-1-in-4-bitcoins-moved-between-addresses-in-past-six-months?srnd=cryptocurrencies

The bear market probably discouraged speculators from trading Bitcoin actively, but that's just conjecture on my part. I don't think it has as much to do with adoption than the current market climate. It's definitely nowhere near large enough to shake off its past volatility issues.