In my opinion yes, it is possible for bitcoin to loose all its value one day. But as we learned fron numerous other examples, an asset that it is appreciating, will not loose its value very easy, nor it will deprecate to nothing. For example gold it never deprecated in value altough now is a symbolic asset that a practical one.
 Bitcoin is 6-7 years old, the next 5 years will tell if it will remain or loose all its value.