People don’t use bitcoin to make small purchases anymore that’s not a secret. However, bitcoin prices have nothing to do with the wallet activity stats. Supply and demand is all that matters. Bitcoin has limited supply a s the hodlers are not selling… that drives the prices upwards.
Take a look at litecoin on the other hand. I heard it has more wallet activity than bitcoin lately but its price isn’t going anywhere. It is because there are no good litecoin holders and there isn’t enough demand. It is a dump-fest all the time. Hopefully that will change soon.
I agree with this explanation of yours Sir, though Bitcoin seem so quiet in its activities these days, its still no effect of its value and will still rule the Cryptocurrencies in almost all of it. Most holders arent surprise and move by this inactivity.