The key to answering this question is the volatility of the base unit used to measure. If that's USD, sure, macro events and international trade trends will influence the answer.

The thing we should be doing is measuring the purchasing power of bitcoin (a "Big Mac index" if you will.) In that case, I think the answer is clearly a trend to less volatility over time. It's difficult to break the habit of relating everything back to the dollar, but it needs to be done at some point.