First a math point about relating adoption rate to price. Peter R confirmed upthread with a chart that proxies for adoption, N, are tracking price = N x N. And if adoption is growing by rate R per year, then it grows R x R rate in two years. Thus we can say that the annual rate of price increases is proportional to the biannual rate of adoption. You see when our Y axis is logarithmic (e.g. log 10 on chart Risto shows) then exponentiation becomes additive and thus linearly proportional.

So I've been FA thinking about why Bitcoin adoption is likely declining, i.e. as I showed a log-logistic curve fit...