If the volatility of Bitcoin is very low, then there will not be so many people holding Bitcoin, the value of Bitcoin will depreciate, and the high price fluctuation will make us prefer this kind of investment feeling, and regard Bitcoin as a kind of investment opportunities.
Exactly, if bitcoin price stabilizes a lot of people will leave it, even though it was created to replace the centralized monetary system of fiat but it would be nothing without losing its volatility. Admittedly we are all more concerned with the price of bitcoin these days than the utility it brings, people invest in bitcoin because of its skyrocketing price, and Not too many people will care about what it will be in the future. If bitcoin price is as stable as gold or fiat, people will soon leave it no matter how good or decentralized it is.