Every individual has their own unique perspective when it comes to embracing Bitcoin in their life. This results in some feeling left behind (especially newcomers), as they harbor doubts about the instability of Bitcoin's value.
Undoubtedly, there are also many who believe that Bitcoin's price is controlled by whales operating behind the scenes. Who knows?
A group has the ability to manipulate Bitcoin's value using their vast wealth.
Assuming that the demand for Bitcoin does not decrease, or even tends to increase, the upcoming halving should serve as our main weapon to prove that Bitcoin's current value is still undervalued.
But in as much as we always feel that bitcoin have become really expensive today, I still agree that it's still very early, bitcoin has the potential to reach 1 million dollar or more if it gets adopted and it becomes a major currency in the whole world.
It seems highly unlikely that Bitcoin will replace USD as a major currency due to the regulatory barriers imposed by governments worldwide. However, the most feasible role for Bitcoin at its peak is to function as a limited-supply investment instrument with a robust Blockchain technology.