While that is possible with any investment the fact is many people that got in early (early being less than 2 years ago!) have already made many times their original investment. A small investment just a couple years ago is now worth twenty fold. Imagine in 2015 you took a shot and put up $5000, well even with this dip you are sitting on north of 100k. Do a little research and see what a $5000 investment in 2010 is worth today. (hint you will crap your pants) So is bitcoin high at this point? Maybe, maybe not.
” A small investment just a couple years ago is now worth twenty fold. Imagine in 2015 you took a shot and put up $5000, well even with this dip you are sitting on north of 100k.”
I understand your POV, I was arguing that this is not an investment...as it is not a real asset. There are other blockchains now and they all offer the same capability as Bitcoin (only that Bitcoin is the first). What people are buying is potential for growth, but growth in a currency not backed by anything (except for blockchain technology).
Its about making money and gambling on something with a limited number of units - really no different than when Tulips or a certain type colored shell was used as currency.