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.
Maybe when the demand already reach it's supply and we cant tell when will it happen bit maybe for 10years and more it can still live and btc will have more new feature and uses by that time.
New feature? I just want Bitcoin can create a system instantly confirm transaction as Digibyte or Ripple and it can receives a huge numbers of transactions any time. I do not want to spend much times when I want to sell my Bitcoin at highest price because I need to wait confirm my transaction hash.