Those who are limiting bitcoin's price to a certain amount or doubting if bitcoin can actually clock a certain high price rage do not understand the power of Scarcity. We are gradually getting to that point where a fraction of BTC will cost a fortune. Can we see that volatility which many think is a disadvantage of bitcoin can not hold down the price from reaching multiple ATHs?
Many will call it mere speculations but they have at one point or the other unconsciously or consciously made comments suggesting that bitcoin will get to a point and remain stable. In terms of price, bitcoin has no limits as long as it remains a scarce asset.
Scarcity is not reason to make Bitcoin valuable and interesting for investors. Shitcoins can have scarcity in total supplies but they are not good for investment as they don't have good fundamentals, technology and their adoption is very limited or zero.
Shitcoins can not compete with Bitcoin and can not have higher prices than Bitcoin in a long term. They can be scam altcoins and somehow were pumped to higher prices than Bitcoin price but scams and scams and after pumps, there will be price dumps.
Comparing Bitcoin to shitcoins is unnecessary; they don't stand close in any way. Bitcoin is the only cryptocurrency that is truly scarce. We were told Bitcoin is capped at 21 million bitcoins; that figure stands, no addition or subtraction. This is partly possible because Bitcoin is decentralized and cannot be manipulated by any single entity.
As for shitcoins, they are centralized and not truly scarce. Because they are centralized, the creator can pump in more coins at will, disrupting the total number of coins earlier declared. You can trust Bitcoin 100%, but you can't say the same for shitcoins.
Bitcoin’s scarcity is indeed one reason why Bitcoin is valuable. Other reasons are still valid, but you can't rule out this fact.