Bitcoin as we know it is supposed to be utilized like money for everyday transactions but aside from this, just like the physical gold, it is mostly known as a store of value that can increase and decrease suddenly in a matter of some blinks of the eyes (well, literally and figuratively).
Personally, I would rather hold my bitcoin that spend it because I am looking forward that soon it can go beyond the $20,000 (or almost) reached in 2017. I am sure that am not alone with this mindset right now.
Is there really something wrong with this scenario for bitcoin?
This is indeed truth not everyone accepts. Yes, Bitcoin is supposed to be money, and no, it mostly is not. And a big obstacle I see here is whenever the market gets bullish, the transactions get stuck and the fees go way up. I mean, when you have to pay some cents, you can buy groceries at least potentially, but if you'll have to pay 5 dollars for food worth 15 dollars - well, that's a big problem. I am also holding most of my Bitcoin for now, but if the price becomes relatively stable, and there's an option to pay with btc for everyday stuff with low fees - I am all for it.