Bitcoin has good fundamentals, and will either die and become forgotten or will keep appreciating in value in the long term. Given the level of legitimisation Bitcoin has received recently, the latter option seems much more likely.
But timing/strategy matters in terms of investing in it. The 4-year cycles could be a blessing, but could also be a curse. Those who bought in at the very peak of the previous cycle didn't get good value for money. Even if they managed to sell at the peak of the current bull run, that's still a return of like 15% a year, which is not that impressive given it was in the period of high inflation and other traditional markets could yield a better return.
Personally, I would prefer Bitcoin to decouple from stock markets and start acting more like gold, even if that would mean no more cycles and no more skyrocketing.