It's often discussed. The simple answer is, that the price is low due to price manipulation. Speculators can just make more money with high volatility and that is mostly what all the exchanges are about: Making money with speculation.
That is exactly the reason, why so many people don't look at the price anymore. If you look at other metrics you see, that the BTC-economy is growing.
Agreed on the premise that the crypto economy is doing fine, but disagreed on the conclusion that it must be due to manipulation (at least not in the sense of active, coordinated manipulation). People so easily forget that, each day, 3600 new coins are potentially entering the market (probably less, but don't fool yourself into thinking miners "hold" as much as they did two years ago), which at current valuation means up to 1.3M USD are needed
per day are needed to sustain price. I'm simplifying, of course, it's probably not 1:1, but the point is: During its bootstrapping phase, Bitcoin is de facto highly inflationary, and the market must absorb this.
In addition, people seem to forget that we ran up to a major price peak last year, catapulting the hypothetical Bitcoin market cap to more than 10 billion. And that was after an almost uninterrupted upwards trend since late 2011. At some point, the market
will cool down, like it or not.
None of that means Bitcoin is done. Far from it. But it never was a realistic option that we'd go straight to 100k USD, by some magical, market defying process of the entire world giving up fiat and turning their assets into crypto. The process will be a lot more choppy. Still a good investment, imo, and most likely price will go up again substantially, but not in one smooth go, and probably not
quite as high as some in here used to think, or still think.
