Saying that coins like literally clone Bitcoin or others that are technically superior are "alt coins" is rather unfair. Furthremore, in case you have not noticed, the only thing people is doing bit Bitcoin is indoctrinating others to use and "adopt" using their real money to pump and dump the cryptocurrencies.
Also, it is easier to spread propaganda about how the financial system is when you are hoarding the bitcoins you got when it was easy to mine or when it was 1$ or less. It is not the same to spend your salary when Bitcoin is worth it 1$ than when it is worth it 20000$. Not sure you understand that, there will be no mass adoption while people buys it to get a trading benefit, and no one will accept a currency so volatile.
Compared to gold, is nothing, because you can fork and clone cryptocurrencies creating new (cheaper) blocks in the blockchain anytime.
In short, Bitcoin is only backed up by trust and trading mania. If it was not because of speculation, it would be impossible to have hundreds of coins and all of them increasing in value.
Bitcoin right now keeps on increasing its value, and many more cryptocurrencies are occurring.
many more cryptocurrencies are increasing in numbers not in quality. they are called altcoins and as you can see they are all getting dumped. and most of them have zero quality and are pure pump and dumps.
Do you think someday bitcoin will end or will be replace by other cryptocurrencies?
every technology is replaced by a new one after some years. but bitcoin is still new and it is the new technology that replaced other old ones. it will take years for something newer and better come along. probably not in our lifetime either.
Is it too late to invest?
no. bitcoin still is young and not reached the mass adoption stage. it is still rising and will continue to rise for a very long time.
don't forget supply is limited but the demand is increasing.
Is there a chance that bitcoin will be down?
of course there is! like anything else.