The total market cap of Bitcoin when I started back in 2017 was around $100 Billion Dollars, and yet we are seeing the price of Bitcoin going up, and down significantly. Now fast forward to 2024, the total market cap of Bitcoin is around $800 Billion Dollars, and we are still seeing Bitcoin's price going up, and down as usual, but not as volatile as it was back in 2017.
My point? I don't know, but based on my experience, whatever the market is, Bitcoin will still volatile, and it will not increase or decrease. I guess the only difference is that, the price movement of Bitcoin within a single day was way higher when the market cap is still low since it can easily get manipulated. Now that it has a higher market cap, I'm not saying that it can't be manipulated but it's harder now.
Overall, it's still as volatile as it is. Adoption will not make Bitcoin's price less volatile. Adoption is increase while volatility is still the same.