Bitcoin was never meant to be an investment vehicle. Anyone who has paid any attention to Bitcoin should be worried about its high "valuation" and high volatility.
I've always thought the biggest problem (long term) with Bitcoin is the hard limit of the number of coins out there. This encourages hoarding. Which in itself causes all kinds of structural problems. A vibrant economy hoarding does not make.
I think the mindset of bitcoiners is a deflationary one to start with. It's the mindset of gold-standard thinking as expressed virtually. But the deflationary aspect of it coupled with bad faith of the exchanges stumbling with fraud and other glitches may well be its undoing.
I've always thought the biggest problem (long term) with Bitcoin is the hard limit of the number of coins out there. This encourages hoarding. Which in itself causes all kinds of structural problems. A vibrant economy hoarding does not make.