Keep in mind that the market cap for Bitcoin is about 330 billion USD right now (there is something like 9 trillion worth of gold in the world). For a global currency/global asset, that is quite a small market cap and naturally means it will be subject to increased volatility.
By way of example, the total value of US 100 dollar bills and the total value of Euro 100 dollar notes is about 2.5 trillion. You have to consider the size of the potential economy that Bitcoin might serve in the future - which is undoubtedly global in scope.
Even if you don't think it's pertinent to your area of focus today, it IS emerging as a new asset class, and its current market penetration is so small in footprint that prices are inevitably going to go MUCH higher. When Wall Street dedicates resources to this space (when not if) it's going to flourish and become a very important aspect of modern portfolio theory.
People think gold is the only store of value out there. But people also use fancy artwork, real estate, cars and collectibles to store value - that's a ~280 trillion USD market for the primary purpose of parking money.
If Bitcoin ends up being just 1% of the global store of value market, that's potentially 150,000 USD per coin.
From a mile away I can see the value transfer towards Bitcoin happening as digital millennials grow up and inherit wealth. Will they buy more gold like the boomers, or will they prefer something that is more digital and speaks to their generation personally? If you fail to notice this generational shift occurring right before our eyes, well, that's on you.
