Agree.
I can't even claim myself knowing a lot of technicalities that Bitcoin has, so I can't count myself into those who truly understand the technology behind Bitcoin.
To its true value just like gold and any other commodities is always due to how demanding it is right now just like what the OP said and the volatility property it has could be because on how global it can reach and that brings out a random number of investors as well as sellers that's why we're getting random increases.