The value of a bitcoin comes from its ability to perform as a utility, as an anonymous, instant, cheap way to send funds globally correct?
So as long as you can get enough units of bitcoin to perform this function, then there is no need for people to fight over the remaining units and push the price up via supply and demand.
The function that Btc performs could be performed just as well with 1000th, 1 millionth as many satoshis. There is no need for us all to have 1 000 000 000 satoshis each to be able to send what at the moment equates to ~$230 when 230 00 satoshis would do the job just as well. Why are we bidding against each-other to buy more? More would do the same job...
So why isnt the value of bitcoin settling much, much lower? Are genuine users forced to conduct transactions at an artificially inflated rate?
Why isnt much closer to 1 satoshi=1 cent? That would enable transactions to be conducted just as they are now, we would all have enough bitcoin to not worry about bidding against eachother to buy some.
Lets compare it to gold, always clearer in gold
1kg in gold might provide the vital components for a machine that is worth $100 000. It is the most expensive use case for gold on earth hypothetical example)
Because of this, it sets the market value for gold (not withstanding speculation and investment influences on the price)
There is no reason for people to suddenly start paying 1000 times as much for that same kg of gold. Its price is in-line with its real world applications.
So why does this happen with BTC? We can still send money anonymously, instantly, feeless with 1 000th as much of a BTC? The price is completely unrelated to its real world applications and demand for the utility.