The more people used bitcoin, the more it went up in price and we've seen that it's gone up and it just happened to peak right there @ $7.7K+ last few weeks back and from there, it drops again roughly at $5.5k. Everytime bitcoin crashed, the critics were poping-up like popcorn in the web making videos and sharing there "so-called" brilliant ideas on how bitcoin will end. All these people who have been cheering for the Bitcoin bubble that it will go down to some intrinsic value of zero, they just don't understand what's happening. I don't believe that bitcoin will go demise. They're just throwing darts at a board saying that it's going to come down but the real underlying trajectory of the cryptocurrency world is that it's a new monetary revolution and that the blockchain technology is supporting it and to here to stay despite its being volatile. When Bitcoin drops, so many people taking advantage of it and as a result, the transaction volume will continue to rise and this is going to be the key in the fundamental growth of Bitcoin and any cryptocurrency. The number of people who are supporting bitcoin is multiplying every day and it spreads throughout the continents.
An important point for anyone who thinks that the cryptocurrency is in a major bubble - who would have thought the US dollar would be doing as good as it's doing, with the government printing it into existence and then just putting its stamp of approval on it and is accepted worldwide as a monetary value. What we have now is a currency where the free market wants to use it and believes in it. Wherein we can transfer funds instantly without hassle and is supported by the blockchain technology which is almost impossible to counterfeit. Cryptocurrency started as a monetary component, a competitor to the fiat currency system out of the belly of the financial crisis of 2008. And in there Bitcoin was born and it's been very useful for people that have been dealing with the problems that existed in their governments. They can instantly transfer their wealth outside of the confinements of the conventional system.
Currently, as of this writing, Bitcoin is making its highest mark of $8.2k surpassing its own record a few weeks back. And those critics were again silent of the successful journey of bitcoin heading to its goal of $10k before 2017 ends. And we, the "cryptonians" were so lucky that we are part of the joyride driven by the Bitcoin currency.