Since ages, people keep debating - will BTC pump? Will it go to the moon? Will it drop?
I'm asking myself what's the purpose of these questions? BTC wasn't created to compete with the value of USD or other fiat currencies, but to replace them completely. Therefore, if people would just think prices for various stuff in BTC, instead of calculating them in the BTC value compared to USD, all these questions would be irrelevant.
Whatever your sentiment is, once someone treats bitcoin mostly as an investment, its fiat value will always be a big deal. Therefore they care for whatever scenario that can happen to bitcoin either pump, dump or something along those lines.
Remember that these
"investors" used their cold cash to purchase BTC for investment purposes. Here, it is obvious that their goal is to have a decent profit in return even just by holding. That's why it called investment after all.
We will just see Bitcoin work as a pure currency, at least, in the next 20 to 30 years
(just figures). Why? As long as there are lots of positive hopes about the bitcoin's good future, including the possibility of establishing a "
moon price", people will mostly treat this supposed pure currency as an investment.
Bitcoin replacing USD or other fiat currencies someday will not happen***.