With the recent up move in price, there are some analysts that feel that BTC could become the new asset of choice for hedging. BTC holds all of the right characteristics of a hedging asset. If BTC could become the choice of hedgers the valuation potential is staggering.
Bitcoin still has a bit of relatively high inflation to burn through... After the next halving occurs however inflation will finally drop to a low percentage.
So I think bitcoin will be a good hedge against the dollar in about 2 years.