Because it's not at a steady state yet. At what price did you expect it to reach some semblance of stability? 0.10.. $10, $100... ? Well, there are some broad

Because it's not at a steady state yet. At what price did you expect it to reach some semblance of stability? 0.10.. $10, $100... ? Well, there are some broad metrics we can think about. If Bitcoin become a sort of reserve currency, or a digital gold, or a combination of both, shouldn't its total market value be a proportion of what currently occupies that title? So, do the math. X% of Gold, or X% of reserve currency. Inject that value into 21 million Bitcoin (or the circulating supply at a given moment). Here's a valuation prediction applying Bitcoin daily trade volume of 10% of foreign exchanges which are $5 Trillion[0]. This would price BTC at $100,000. Only after it approaches somewhere close to these numbers, would you expect to see appreciation in the range of fiat inflation. That's how it can be. [0] https://www.cnbc.com/2017/05/31/bitcoin-price-forecast-hit-100000-in-10-years.html https://www.cnbc.com/2017/05/31/bitcoin-price-forecast-hit-1...