Yes what you are explaining is what makes BTC go up in value. More merchants, more people buying and in general more influx of fresh money into the BTC economy. What I am talking about is the underlying factors of WHY fresh money would flow into Bitcoin.
Is it because of financial stability or financial instability on the established financial markets?
For a comparison: When oil was peaking at 180$ per barrel, people were all the sudden innovative and started thinking creative. Articles online were popping up about scientists creating artificial bugs that could spew out oil from garbage and everyone was keen at throwing money into something that could procure more oil.
Then oil felt below 100$ per barrel and nobody cared any more.
So what does Bitcoin need? Gold to crash together with stocks? Or gold to go to 5000$ per ounce as well as stock markets doubling? (for instance)
when was oil $180 a barrel?