Today's volatility in Bitcoin is nothing more than the logical path of price discovery, bubbles, leverage, and manipulation as adoption increases by orders of magnitude.

See the gold price during the german hyperinflation to get a sense of how these things naturally work:

- an excerpt from the 2-minute version of Gradually, Then Suddenly (2019) https://www.2minutebitcoin.org/blog/gradually-then-suddenly-bitcoin