Like everything else, the value of bitcoin depends on its demand. There's absolutely no reason to have confidence that the demand for specifically bitcoin will

Like everything else, the value of bitcoin depends on its demand. There's absolutely no reason to have confidence that the demand for specifically bitcoin will be any more consistent over the long term than lots of other things. There are lots of things that could happen that could dramatically shift the demand levels. Speculative, new, volatile are not good characteristics of places to put your savings unless your appetite for risk is quite high. It's also not a good description of why people are getting into bitcoin as far as I can tell. Most of the people I know invested in bitcoin are invested speculatively because they want to make money as the price goes up, not retain the value they've acquired.