Why bitcoin is volatile even after 8 years?
Part of the problem is acceptance
Although more people are aware of existence of cryptocurrency now than ever before, this I say in the context of demonetization drive that Government of India took up last November, very few people actually believe in it as a genuine movement.
Small term gain against all
Given a small percentage of people are active in cryptocurrency world they are more likely to be interested in abusing short term price rise than contributing in any meaningful capacity. I have bought a sum total of zero bitcoins post demonetization because too many toddlers out there driving the market nuts.
Can't be traded in the market
Even the investors people like me who believe in the movement and wish to propagate the message are clutching onto their spoils because for now it is very difficult to do any meaningful trade with bitcoin. There is hardly any place in India where bitcoin could be used as an actual currency.
What does future hold for bitcoin?
Volatility means I have been able to convince a sum total of at-least 3 people including my father. Bitcoin needs to be used by more and more people not as an asset but as money. Until that happens enjoy the uncertainty.