I think Bitcoin will protect against inflation, and even hyper-inflation, if the demand for it continues to keep place with the growth in supply. That will only happen if people continue to use it as currency.
Inflation or deflation are same dangerous for our economy. Bitcoin could protect from inflation but could bring deflation because bitcoin have limited supply. Inflation should controlled by money supply but i think we should back to gold standart
Deflation also not good for the economy but in bitcoin there is no inflation or deflation everything just set up by the market demand ans supply.But bitcoin will not control anything until we are converting it into fiat,which will make the price of bitcoin go higher against USD but again it will cause inflation on the fiat money which will impact the world's economy.