Bitcoin has an interesting relationship with price and popularity. In my opinion, this unique relationship is one of the biggest pieces of evidence that suggests that bitcoin is in fact not a bubble but rather a unique new financial tool and asset that is still, incredibly undervalued. Bitcoin, according to most estimates available online, is only currently used by less than or close to 1% of the population. It is for this reason that we see such a savage exponential growth trend with bitcoin. As the price goes up more conversation is generated around the concept of bitcoin and other cryptocurrency and more people, either because of a new found belief in the underlying technology and its potential or just because of their fear of missing out, hop on the bandwagon and decide to purchase some bitcoin. This, in turn, drives the price upward which calls the attention of even more bandwagoners who drive the price even higher. This is the cycle we are and have been seeing in bitcoin over the last year or so. Both bitcoins price and relevance are growing at an exponential rate and each is driving the other. There will be a point where a majority of the audience that ever will be involved in cryptocurrency is reached and that point will likely be the time when bitcoin's volatility disipates and it begins to slowly and steadily increase in value due to a limited supply rather than being a risky speculative asset.
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