You can't take the day to day price variance of Bitcoin as an indicator of anything at all. It is completely unpredictable and yes, if you intend to spend your money tomorrow, it is not the right currency for you.
I'm not intending to give investment advice. People can take what they want from my comments. If you're waiting for the price to stabilize before you "invest" in Bitcoin, then I hate to tell you, but you're probably going to be paying a premium on it. The price of Bitcoin is only going to rise in the long term, and the earlier you get in, the less you'll be paying for it.
Hacked exchanges and fraud have nothing to do with Bitcoin as a store of value. It's a case of bad security and decision making. Gold will also not retain it's value for you if you leave it lying on your lawn. If you take the necessary steps to make your Bitcoin secure and fault tolerant, they can be more robust against any kind of attack than Gold or cash.
Ignoring the price volatility of an asset and the shear number of hacked/robbed institutions using it because you want it to be the most stable form of value store is confirmation bias.
I'm not intending to give investment advice. People can take what they want from my comments. If you're waiting for the price to stabilize before you "invest" in Bitcoin, then I hate to tell you, but you're probably going to be paying a premium on it. The price of Bitcoin is only going to rise in the long term, and the earlier you get in, the less you'll be paying for it.
Hacked exchanges and fraud have nothing to do with Bitcoin as a store of value. It's a case of bad security and decision making. Gold will also not retain it's value for you if you leave it lying on your lawn. If you take the necessary steps to make your Bitcoin secure and fault tolerant, they can be more robust against any kind of attack than Gold or cash.