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> As Bitcoin becomes scarce to obtain, it's price will skyrocket

This kind of logic always reminds me of the Terra/LUNA fiasco. An economic model that works as long as nothing unexpected happens. For the price of bitcoin to skyrocket, you need a constant stream of new investors willing to buy bitcoin at these inflated prices. What if this just doesn't happen?

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Begging the question. What makes the prices inflated today?

Speculation... And probably quite a bit of wash trading...

Speculation would qualify almost everything, so that would be more of a statement on macroeconomics beyond Bitcoin.

BTC is liquid enough while seeing billions of dollars in inflows a month to discount wash trading as a major factor.

As with any investment, there's always the classic "Past Performance Is No Guarantee of Future Results". But with Bitcoin a significant downturn could be an existential threat if miners decide it's no longer worth their time and money to keep the blockchain running.

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