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As bitcoin goes above $100k and beyond, I doubt there will be a "growing number of people" that will refuse to accept bitcoin.
I mean, go ahead and not accept it, that's perfectly fine for the rest of us that do accept it.
Or it could go down to its intrinsic value which is "0". Btc isn't widely used as payment method because of its inefficiency (high transaction fees, long delay for confirmations...)
Initially one dollar was backed by one ounce of gold
Today one bitcoin is backed by 36 822,00 USD
In its actual form
BTC is worst than fiat. You can buy a lottery ticket instead of putting your money into bitcoin (you'd have more chances of becoming a billionaire).