Huh? Not much has changed since the 3 to 400s in terms of adoption. Probably the same number of people control the same amount of coins. There ain't any new exchanges and volumes are down compared to the past. It would be super easy to crash it and it can happen any time.
It'll take a fundamental change in the amount of people participating and who they are to make it less vulnerable to a small number of people having an outsized effect.
every time price goes up media goes crazy and those who were sitting on the side lines or didn't even know about bitcoin find out about the rise then they start investing. and each time price goes higher and new people look at the charts and see the consistent rise over 2 years from $200 to $900 they start investing and media goes more crazy and then new services start accepting bitcoin and more adoption happened after that too.
yeah, not all of this rise is because of adoption. and mostly is because of speculation and halving and other good news all around but as i said rise on its own makes adoption happen.