People don't get it. Bitcoin is equivalent to a religion. The believers will always believe. It's here to stay no matter what. It might fall to a fraction of its current value but people will hold on to it and buy more.
All currency ultimately comes down to an act of faith. But in the case of fiat money, that faith is in a government that is already providing you a bunch of infrastructure, paid for in fiat currency and demanding the same fiat currency in return (taxes, tariffs, etc.)
It's still a kind of faith, but it's like faith in a deity that at least intermittently actually shows up to do something. Not the kind who "works in mysterious ways" that seem indistinguishable from random chance.
Cryptocurrencies rely on individuals to provide that intermittent evidence for faith. You're trusting that people will pay you for your goods and services in the currency, and will accept your currency for the goods and services they offer. (Or at least, trade it easily for a different currency that people will accept.)
In theory, that could work. In practice, those people are crypto enthusiasts, who aren't really the kind of people you have a lot of faith in. Some of them are criminals, trying to take advantage of circumventing regular channels. That is, at least, a real thing -- unlike the other enthusiasts, who are in only because "line goes up" and don't have goods or services to offer for your currency. That latter faith is easily fractured -- and exists at all only because there are a lot of such people.
There is literally zero functionality in bitcoin that states one gets richer from getting more people in. That's called supply and demand. I'm a big fan of crypto but I also see these huge peaks and valleys in valuation as a sign that it is treated as a get-rich-quick scheme by many, but bitcoin exists as a means of transacting value outside of state-owned currency. It's pretty rad, but unhinged speculation paints it as a casino. 40x valuations of the next photo sharing app is speculative and outright bullshit too but we don't say photo sharing is an MLM.
The gold believers are the say way.