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.
As long as bitcoin is useful for the people of the world its value is not going to be zero, old technologies like a computer from the 90 are useless in today world but even if bitcoin is surpassed by other coins, bitcoin could still be used as a currency so I do not think we are going to see bitcoin losing all its value.