I can not understand why everybody wants to see spikes of more than $1000 - $2000 everyday, they are not healthy for bitcoin, they are killing bitcoin because they are exposing it to be crasheable at any time.
This behavior is perfectly normal for not only bitcoin, but any other asset. After such insanely extreme volatility that we've seen recently, it's not unusual for it to relatively calm down.
Lets just wait a bit, i dont think that it will suddenly be touching thirty thousand dollars, because that is a huge rate, and how is going to buy more than 300 billion dollars worth of bitcoin in order to drive the price to a x2?
I dont think that a regular person will do it, not even a big bank, because that amount of money is not easy to find.
So this is a fundamental misunderstanding of how prices move. In order to double the price of bitcoin, you would need FAR less than $300 billion. The amount needed to push the price to double its current price has nothing to do with its market cap.
The price of bitcoin is whatever the last person to buy bitcoin (or sell) paid. Think about an order book. Imagine if there were very few orders, and they were spread out. What I mean is, there may be $1 million worth of orders to buy bitcoin between $17k and $18k, and then there might be $1.5 million worth or orders between $18k and $19k, and say there's like $10 million worth of orders between $19k and $25k. You could buy all of these orders for $12.5 million in this hypothetical scenario, which would result in the price of bitcoin being $25k. The market cap has all of a sudden increased by almost $150 billion but all it took was $12.5 million. Moving the price of an asset depends on the volume of trades, not the market cap.
Basically the market cap of an asset does not mean the total value of all of that asset is really that amount, and the amount of buying or selling interest required to move the price is correlated with volume and has nothing to do with market cap.
A completely unrelated side note that I think is kind of interesting is that even though Jeff Bezos is the richest man in the world on paper, because of this logic, he is FAR less rich than Bill Gates, Warren Buffet, and many other billionaires. The vast majority of his fortune is in Amazon stock, and he would not be able to move that money out of AMZN without crashing the price and devaluing the remainder of his fortune. If he wants to diversify and move his money out of AMZN, he has to do it slowly over many, many years. If he sold even 10% of his fortune, it would likely cut the price of the remainder of his fortune in half or maybe even worse.