Yeah, my logic is flawed in a multiple of ways but mainly a large majority of BTC is being bought in the USA for a number of reasons so the price hovering around that nice $100 is because of this in my mind:
1) gambling- BTC offers ways around the heavy anti-gambling laws of the US
2) drugs- Many drugs are illegal in the US whereas in other countries they are legal or not so wanted/used.
IMO, without the above 2 things offered, bitcoins would probably still be under $20 per coin because these two things are the major advantage of bitcoins and other cryptos compared to fiat for the everyday user. Why gamble offshores with all the sending / receiving fees when you can simply use bitcoin? Why have to find a local dealer when you can have drugs delivered to a simple P.O. box. Yes there are other uses for bitcoins and hopefully it will involve more legal activities in the future but right now those are the two main driving forces of bitcoin besides mining more of them of course, determining the price. There are many flaws in my opinion here, I know.
Just fyi, I am not new to BTC, I have a main account on here but I am creating a sports Propbook, thus the purpose of this account. I do not promote or use drugs I am simply stating they are a major advantage compared to fiat. Obviously many people like bitcoins because they believe they will be the transacting way for buying/selling things legally in the future instead of / or in combination with fiat.