Yes, Lucius.. we have not seen the last of the wild volatility that we were used to, but for now most of the volatility has died down and much of this is due to less speculators pumping and dumping the coins.
They will return in their hoards
if the SEC approve a Bitcoin ETF and then we will see even more volatility than before. The current price stability has a lot to do with less speculators in the markets and people hoarding their coins in anticipation for the next Bull market.

I think it will pass a few more years before
BTC ETF be approved by SEC or maybe by some other financial institutions in the world. People think that world spins only around USA&SEC, why first
BTC ETF would not have been approved in Japan or some other country?
Also essential is type of ETF, physically-backed with real
BTC(VanEck SolidX Bitcoin Trust), or just based on
BTC futures contracts (ProShares). The first is likely to have a big impact on crypto market, and second is just like futures we have more then a year.
People will always wait next bull market, it is just how many experiencing
BTC - just a method to get some profit. And this is working all the time, buy low and sell high, repeat the procedure and get profit. Whoever sold only 1
BTC in December 2017 is made nice profit, and for 20k$ today you can buy 6+
BTC, and wait next bull run which will be over 20k$ for sure.