People may argue yet one known opinion is that Bitcoin is alternate currency with big potential, solving number of issues with traditional currencies. Then there is progressing adoption and awareness across the board - from individuals to institutions - banks, funds, other fintech and not only. Again it may be questionable and people may say it just fake and scam - still this is one potential argument for the value to grow as estimated mass adopted bitcoin seems to be well above 100k. OTOH there may be number of reasons for bitcoin to not succeed - like strong restrictive government regulations, raise of "much better" (whatever it means) cryptocurrency, some big fraud unfolded (overcoming mtgox) etc.
In general though there is possible positive outlook and in the history there are number of cases to try discount early and speculating over the target value well ahead - of course such speculations are risky (especially now in so unregulated marked) and may be used for manipulations, pumps & dumps - still manipulative speculators are as well vulnerable of overtrading their positions when crowds or silent institutional actions are stronger then expected which may bring even more volatility (to both down & up side.
And it's good path to take. Because crypto already way over expensive. In my country many people drive cars that cost the same as 1 bitcoin. SO people who say we are in bear market or that btc is cheap- are not right. Price depends on how you look at it. As for something crated form thin air few bytes on many computers drive's - 3800$ is pretty high price :)
So far everybody holds and buy crypto for 1 reason only - to sell. WHile this continues -i dont see any real bullrun.