Just see the profit and return of holding Bitcoins , don't we all know a guy who spended Bitcoins for some pizza?
Yeah the value are too much inflated as compared to the older days , imagine we buy something with Bitcoins today and the value increases then we would be just overpaying  for the services or good we buy , or take it this way if someone runs a business would they be accepting Bitcoins when the bubble forms and is about to burst? Would they be willing to risk that the value of Bitcoin would be going to get higher and accept huge payments? .

I personally believe that Bitcoins have developed  to such an extent that majority of the people use them as an asset rather than using them as a currency,