The former Brighton midfielder is now in his second season with the Blues.
Potter worked with Caicedo at Brighton and wrote for BBC Sport: "It feels like Chelsea are starting to see the real Moises Caicedo now, and I am not surprised their results have improved now he is doing so well.
"I've known Moises since he first arrived in England to play for me at Brighton, and his story is an interesting one.
"It was never a case where he landed in a new country and everything went great for him - but he has always shown he can cope when not everything goes to plan.
"The way it began for him with us at Brighton was similar to what happened when he first joined Chelsea, in that it felt like he has had to suffer and dig in before coming out the other side and showing everyone his true quality.
"He has established himself now at Chelsea, which is credit to him because that status has not come easy - for lots of reasons.
"Moises has had to cope with a lot of criticism of his £115m price tag, and also criticism of him personally as a player in terms of what he has given to the team, so it's no wonder he admitted he lost some confidence.
"Things are different now. The Chelsea team has settled down a lot since he first joined, which has probably helped him a lot, but he has grown with them.
"He is at an exciting club, in the way that they are a young team who are going to grow together, so they will get to know each other more and more - and he and they are only going to get better from here."