Unfortunately the volatility in the price of bitcoin is inevitable, the fact the supply is fixed and it is mined at a constant rate means that whenever the demand goes up significantly that there is not enough supply to cover the demand making the price to go up in the process causing volatility, truth is there is no way around this and I really think that the volatility is not going to decrease in an important manner until a great deal of the people around the world adopt bitcoin.
All these factors apply to any commodity on the market, and bitcoin in this case acts as a commodity. Bitcoin can have a stable price if some organization like OPEC or the IMF appears, which will regulate the level of the exchange rate price, but I am not sure that the freedom-loving cryptocurrency community will accept this with enthusiasm. As you know, bitcoin does not have any minimum security, like fiat currencies, and this is both its disadvantage and a huge advantage. Therefore, in the near future, we will continue to see both large drops and a large increase in the exchange rate price of bitcoin.
