It isn't proven, contrary to the responses in this thread. Bitcoin's prices has largely been on the uptick since its inception mainly due to the adoption by the major players and/or governments. It would be incorrect to formulate an opinion solely because of that. Conversely, Bitcoin has largely been influenced by the general market trends; downtrend in the market typically results in lower crypto prices, and vice versa.

However, Bitcoin holds the specific characteristic which is a good hedge against inflation. Assuming that the demand remains constant, the decreasing supply would in theory result in Bitcoin being more valuable.