There's an intriguing bit of psychology at play as the price rises. And this is only really going to kick in once we're in the quad digits. Humans have this peculiar trait about us that the more expensive something is the more we desire it. People with wealth in other areas will see the rise, and will find themselvews strongly compelled to buy some of these mysterious bits. And this cycle will continue on upwards.
it is well studied, known as Veblen goods ...
https://en.wikipedia.org/wiki/Veblen_goodInterestingly with bitcoin it actually has an underlying utility value logic driving the Veblen good phenomenem also, because as the total value of the bitcoin float goes higher (market cap) it becomes more useful to move larger amounts around (across borders) without causing instability, volatility.
So as the value of 1 bitcoin goes higher it becomes more useful to a greater pool of funds, and as we know most of the global fiat wealth is concentrated in very few hands so it is not a linear trend towards more usefulness but accelerates, i.e. it is an exponentially more useful good as the total bitcoin float value increases. It becomes more valuable to an exponentially greater pool of wealth the higher it goes, it is like an exponentially more desirable Veblen good.
