I don't think value will be dependent upon the adoption instead valuation will be more dependent upon the play by the whales, adoption as you can see is much more than what it was an year ago but still the price of Bitcoin is somewhat less than what it was a an year ago. I think whales are going to continue their own play with the price and adoption is going to happen side by side.
adoption is only a trigger that bitcoin is recognized by several companies which will certainly make the price spike, but over time the price will go down again. Bitcoin is a cryptocurrency that has a volatile nature with high volatility, so bitcoin cannot be used as the main currency just like that. to become a major currency like Fiat must have strong price stability. Whales play a role in the volatile bitcoin market and many more that affect the bitcoin price.
@teosanru The value of every commodity or store of value always depends on the level of adoption and enthusiasm within the ecosystem but that doesn't mean the bigger fish won't manipulate the market. However, the price of Bitcoin was more than what it's was years ago because of adoption and halving effect.
@taufik123 Understand that fiat currency are also volatile in there own way. Bitcoin been highly volatility doesn't mean it cant be a major currency but it can't major currency because of it decentralization which is a setback to the government.