I think bitcoin’s volatility is nothing more than a byproduct of its rapid growth. As the protocol and monetary policy are incredibly stable. Bitcoin has been compounding at ~70% CAGR over the last decade. If it grew in a perfectly smooth exponential line at 70% annually, markets would try to front-run it, creating an unsustainable bubble that eventually corrects. That’s essentially what bitcoin’s price chart looks like: waves of adoption and consolidation around an exponential trend.(Joe Burnett, MSBA)