For most of bitcoin's existence, what appears to be volatility is just the market trying to determine the price of a new asset. But even as it's become more widely adopted it seems that the biggest downward driver on price is bitcoin's liquidity.
Don't have a misconception of the two terms between an asset and liquidity, no matter the investment and market liquidity with bitcoin, people will still prefer it than fiat or any other source because of the way bitcoin is made decentralized for them to be able to control over the currency, the market liquidity is just one of the parameters in which shows more on how the adoption is increasing by the number of its investors and the asset worth withing a particular time frame.