The current market value of bitcoin is mostly based on bitcoin as an investment, just like gold or other investments that have 0% dividend.
As ironic as it may seem, as more people and merchans use bitcoin for actual purchases the price goes down further.
The reason is simple from a pure economic perspective:
People are buying stuff from merchants with bitcoins acquired from mining and/or speculation.
But merchants got costs for rent, products, services and employees in FIAT, therefore they have no choice but to hedge bitcoin at the moment the coins arrive (with bitpay et al)
The same is true for industrial bitcoin miners, their costs are fiat denominated.
So we have an increased Supply of coins in the market, but not a matching Demand, which results in a price decrease until we have a new equilibrium that might be around 100 or even lower if Ripple becomes the new Crypto King.
