nowadays, bitcoin price reflects that it is simply high-risk asset,
It was always high risk and so unknown originally it was attributed no value beyond curiosity and uniqueness. We gained alot of attention but also built up regular exchange and layers to systems handling all types of users and now theres giant amounts of froth in the price but its not reduced the back bone of growth and use of Bitcoin. Its true of most assets that the prices are spongy on the surface at least and below that theres a more solid supply and demand price.
Dollar is the source of most speculation and inaccuracy in prices, excessive over supply of dollar means its cheap to gamble on which assets can outperform and then we rise because somebody else thought it was reasonable. A crowd effect or feedback loop is perfectly reasonable conclusion to observe but its not negating Bitcoin overall. Which of the two is stronger, Dollar is a rope untied at both ends and despite being a substantial length and weight with decades of inertia we will see those holding on eventually let go when thats realized.
Bias and inaccuracy is all over the place, its not just us if you are scared of that and we are somehow in some self denying bubble just hoping. The issues are bigger then just crypto and I do believe it will be that crypto is of greater use to society then it is now, if true then we are not in the wrong place. There is no absolute certainty we go in any direction, accept that and you are fine imo
