I think no because bitcoin is used for online transaction and the price of bitcoin is not stable, but if bitcoin become stable maybe it might be possible that bitcoin will become currency, but for now, there's no chance that bitcoin will be used as currency.
The other reason every country have their own currency so where do you think the country of bitcoin?
Bitcoin is decentralized and we couldn't just credit it to China or other countries as their currency.
Well it is difficult to assert that bitcoin will be used as a digital currency that could be mixed with centralized currency because the market value for bitcoin always changes as what you had mention and for that we can say that bitcoin is not for the likes of these a currency where we can use to buy commodities however, there are many applications that bitcoin could be use as a digital currency and those to eradicate corruption because of its blockchain technology. Bitcoin as a digital currency was not a failure because it is already being used as a currency but not being mixup with centralized currency. It has its own specific functions that it may be advantage for the business.