Bitcoin price swings are expected because its price is largely a function of demand and demand (roughly equivalent to Google search interest) can swing wildly. Why does Bitcoin’s price (or its purchasing power) depend only on demand? Because the quantity of units released remain largely constant. Any currency in wide circulation is subject to the Quantity Theory which says that purchasing power is a function of both quantity and demand. The only way to steady the price of Bitcoin is to control its quantity, but nobody controls the quantity released. The count of bitcoins released is fixed according to a strict schedule.