Bitcoin is...

a very young asset, and its narrative is in flux.

Market prices are a direct reflection of people's PERCEPTION of reality. The reality of bitcoin leads many to perceive it as an inflation hedge or a loose policy hedge. Others perceive it is a speculative tech investment. Still others perceive it as a thing which currently crashing or not crashing.

I agree with the author, especially the four bullet points at the end. It will probably continue to be a good "loose policy hedge."

Probably. I think.