Bitcoin is constantly evading predictions of death. The 'priced-in' effect depends on the company behind a certain stock performing as expected. If so many expect bitcoin to be a failure, the market can't be 'priced in.' Also, performance can sometimes be totally unexpected. Eg. Facebook.

Also, bitcoin isn't a stock. As long as bitcoin has intrinsic value (which we agree it does), the price can boom due to economic conditions, just like the precious metals market. PM's are worth more in times of economic uncertainty.