I just don't get it when people say that bitcoin isn't speculated and all of these prices are just natural.
Anything unnatural will not sustain for longer time frame, right? Bitcoin is almost 12 years old and its value is on upward direction among big to small corrections in this time frame. Consistently having value into upward direction artificially is definitely 100% impossible in this modern era. People are having all the resources to verify and to double check in this 21st century. So, bitcoin must have got all the reasons to value. It may be higher due to speculative but when demand also increases then such higher value also becoming reasonable. It is kind of cyclic events like higher value happens first and then bitcoin gets equivalent or higher demand which in cycle induce again higher prices.
This, it is true that sometimes FOMO takes over the market and we see a bubble forming and then a crash happens, however this is something that occurs in all markets and not only in bitcoin, however to think we could have more than a decade of huge growth and that this does not reflect the value of bitcoin and that all of us are victims of a delusion is a mistake, bitcoin should have been worth trillions of dollars from the beginning but instead it is taking a long time to reach its true value.