Good point about the easy money. I remember thinking in mid 2017 that when futures would eventually launch Wall Street players would run the price up as high as they could first and then short it and drive it as low a they possibly could next. I feel like there is a very good chance that is exactly what has been playing out.
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The key metrics of Bitcoin now is its development IMO. Price is arbitrary, what matters is having developers and startups build upon the bitcoin protocol to make it increasingly easy to be used by as many people as possible.
If bitcoin can change the way the world's monetary system work (in bigger magnitude), it doesn't matter how much the price swings on its way to get there.