1. Bitcoin can't scale, to the point that it will never be usable as a currency
2. Bitcoin is too unstable and volatile to be a store of value
3. There is tons of serious competition among alt coins, which did not exist in the past
4. Governments are cracking down on crypto
Why on earth would you look at these facts and still think bitcoin is a good buy? Nobody would think that, except for someone who already owns bitcoin and has likely lost a lot of money over the past month or so.
It isn't a good buy at the moment. What isn't clear is why attention hasn't switched to some promising alts which don't have bitcoin's problems. I'm guessing it's because the alts don't have a media presence.