Bitcoin does drastically increase in price, in just a few years bitcoin has went to 60,000 in value. In those years, the price was quite unstable, and indeed there were big dips in the past. For me, Bitcoin is not a bubble and a ponzi scheme. First of all, it depends on your perspective whether you think it is a bubble or not, it really doesnt matter. Bitcoin has brought huge gains to investors, but it is true that investing comes with risks that you should take into account. It doesnt always go uphill. Second, a ponzi scheme is centralized, while bitcoin is decentralized.