If you believe that bitcoin will eventually get wide acceptance as a digital currency, you may be able to justify [bitcoin’s current price], especially because there is a hard cap on bitcoin, but if you don’t believe that bitcoin will ever acquire wide acceptance in transactions, it is time that you were honest with yourself and recognized that is just a lucrative, but dangerous, pricing game with no good ending...
full article here: https://www.cryptocoinsnews.com/nyu-prof-bitcoin-may-be-dangerous-pricing-game/