There's no bitcoin scarcity. There are MILLIONS of them being dumped EVERYDAY. There's no mass adoption either. Nobody else around the world gives a sh$t about bitcoins. Only a chosen few here on the forum are constantly beating drums about $350K, $500K, or even $1million bitcoins.
The recent rise in price is due to the whales and manipulators drumming up the price in Anticipation of the Halving in July 2016. It's already being priced in. We might go up to $500-600, but that will be the upper range. If you are expecting $1000+, you will be sorely disappointed.
Glad to hear someone with common sense in this forum for a change. While I may be a little more optimistic on the future of Bitcoin long term it's astonishing to read how many here think Bitcoin is so amazing that they can't figure out why their friends or family can't understand it or don't want to be onboard nor use it. Well that's all you need to know about that, they just don't need it. It's hard, complicated, a hassle to buy and sell (mostly on the rest of the world, I understand it's easier in the US and Europe). It requires you to be tech savvy, to use decimals and convert it in your mind to your local currenty or dollars, to remember authorization keys. If you send money by error there are no refunds, you can actually lose millions of dollars if you make a simple mistake like forgetting a password, etc. However, the technology itself is as unique and innovative as the Internet was when it was created, so to me it's foolish to not be part of something like this even if there's a good chance that at the end it'll be replaced by something better or improved.
To invest a huge amount of your savings to me it's not really wise though, but I think it's worth the risk to invest a small share of it and see what happens.
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