Anyone answering this question for you is probably biased in either direction. You should do your own reading and decide for yourself.

Here's a good article from 2018 that gives an argument on the bullish side: https://vijayboyapati.medium.com/the-bullish-case-for-bitcoi..., and here's a more bearish view: https://crypto-anonymous-2021.medium.com/the-bit-short-insid....