The only way to stabilize the value of Bitcoin or any cryptocurrency is to create an economic system based on that. It should be used for transactions and there should be a free flow of bitcoins/crypto.
Moreover, we also need to take cryptocurrency to more and more people to create large cryptocurrency ecosystem.
If we look at the current situation, hardly 1% of the population are familiar with Bitcoin/cryptocurrency. It shouldn't be like that.
Moreover, Bitcoin is used more or less as an asset, like an invaluable artwork.
The value of the artwork is determined by its demand. The demand for Bitcoin was increasing until the beginning 2018 because many people wanted it but the holders were not ready to give them. This increased the demand.
Suddenly, many governments saw Bitcoin as a threat to their national money system/economy and began to take measures to restrict them. Many countries resticted banks and other financial institutions from dealing with Bitcoin.
Some other countries, including the US, planned to impose taxes on Bitcoin.
It created a panic in the holders of Bitcoin and they began to sell them. But this time, there was no demand. People were not ready to take a risk.
The major reason for the volatile nature of Bitcoin is the lack of uses or applications. This will change soon. Many companies have begun to offer uses or application for cryptocurrencies.
ECOINOMI is one such a company entered in the market this year. Its goal is to take cryptocurrency to the common people and create a large ecosystem of cryptocurrency.
They achieve it by offering several applications for cryptocurrencies so people would use them for transactions instead of holding them as an asset.
You can learn more about ECOINOMI on their website if you are interested.
http://ecoinomo.io