At some point I am really messed up and lost in vein when it comes to bitcoin's price. I think that every second it gets more and more a victim of speculation and gets abandoned from its original idea.
If bitcoin could perform very well at 6K some months ago, why it become 60K after some months? And then it went back to 30K but was still functioning very smoothly, i.e. it was doing the job it was created for.
Again, If bitcoin could perform well at 30K some weeks ago, then why it worth 60K right now? I just don't get it when people say that bitcoin isn't speculated and all of these prices are just natural.
It is very similar to the situation in container transport right now, the price of each container has risen 1000% since last year, because limited capacity and more goods waiting to be shipped before Christmas season
Similarly, when lots of money need to be transferred using bitcoin, and there are just so many bitcoin available on market, then each bitcoin would cost much more to acquire