Well, Yes, perhaps bitcoin is now in an extremely risky zone, and can certainly collapse, but I think still this will not happen, and it will only rise and will work for a long time.
Bitcoin is really risky, and if you invest here there are definitely things to be consider. Also, it really happen that bitcoin's value keep changing from time to time. Sometimes the value is too high, and sometimes the vale is too low. Yet rest assured that even if the value fluctuates, it will recover and increase again. There are still many benefits here.