I'm always curious as to why people without bitcoin have 'no choice' but to buy bitcoins from the few that own them. There are plenty of businesses that may want to use bitcoin, but from a customer's point of view the only really compelling reason to own bitcoins is to buy something that's illegal or restricted in their own country. It's a valid use that cannot be denied, but it's a relatively small one.
Right. As I've pointed out before, Bitcoin has had two major bubbles - Silk Road and China exchange controls. Both existed only because Bitcoin offered what seemed to be a safe way to do something illegal or restricted. Both collapsed once the relevant authorities figured out how to stop it.
Without a new large use case like those, it's downhill from here.