The analogy is so close but so far off.

Bitcoin is new. Imagine a new element was discovered and humanity was still trying to figure out what the heck to do with it. There were a few that got it. They would try to get as much as they could. The price of this asset would drastically shift as understanding changed. As greed came into play many scams would crop up. Slowly people would learn its true value and over time its value (collective) would increase and volatility would decrease. People would get it wrong and do stupid stuff. The market price would drop. Others would get it and make bold moves. The price would rise.

This is playing out before our eyes.