If it becomes more utilized and popular, assuming people use it as currency and not as exchange medium, then inherently the price has to go up because demand fo

If it becomes more utilized and popular, assuming people use it as currency and not as exchange medium, then inherently the price has to go up because demand for bitcoins goes up, and the supply barely changes and does so with algorithmic inputs and constant loss due to lost wallets. I like to think of bitcoin as cryptogold. The inevitable outcome assuming continued success of the bitcoin protocol is that as more people want it and supply cannot change it becomes a lot like gold, in that it is traded as a resource backing currency. You could still use it for transactions, but a money that is long run appreciating in value is not very conductive of exchange. Something like dogecoin, peercoin, or any cryptocurrency implemented that algorithmically adjusts generation rates to maintain consistent monetary velocity would be much better suited as a day to day exchange commodity. Also, one of the most prominent uses of bitcoin is in international exchange, in which case yeah, it acts as an intermediary between local fiats, but there is substantial pressure to just use the bitcoin outright rather than constantly converting it back.