Is there any reason for the Bitcoin being worth anything? Even in North Korea or Cuba it is easier to hold USD than Bitcoin. I'm sorry for the late investors, but people was warned since long ago.
It remains to be seen if enough of a market can develop around bitcoin to stabilize its price (or indeed the price of any of the cryptocurrencies). The reason traditional fiat currency prices are as stable as they are is that they're coupled to the value of the goods a country trades which tend not to fluctuate up and down much. In theory cryptocurrencies value should be tied to the value of all the goods and services that they can be used to purchase, but since so few goods are actually purchasable using those currencies currently, the vast majority of their current value is derived from speculation in the market which causes the huge swings in value we see.
Other commenter explained benefits of bitcoin, so ...