My thoughts are that use case can exist. Use case can drive price up. I don't think use-case can compare to speculation though. Speculation cycle bullruns(on a finite amount of supply asset like bitcoin or xrp or ethereum) are caused by people buying assets at a faster and faster rate, buying more and more of it... more and more people buying more and more of it... in a frenzy. Until it reaches a point when soooo many people buy sooooo much of it in a short period of time that the price of the asset cannot sustain the ridiculous price and absolutely PLUNGES downward.

Once this euphoria happens, at peak stupid... when people are re-mortgaging their house so they can buy bitcoin... this is peak stupid.

Eventually bitcoin (and all coins) will reach peak stupid. When it's just impossible to get more people to buy than they have bought...

I don't think use case can compete with this.

This is why I feel the 4 year cycle will continue with bull market/bear market. Once we reach peak stupid, the asset has to crash. There is no way for it not to.