Absolutely false, and for several reasons. You might accurately say that long term trends are on the side of BTC, but given its extremely limited utility and subsequent reliance on the "bigger fool" factor, that Nov. peak could as easily be the all-time high as anything else.

Limiting the supply of a currency is usually bad monetary policy, at least in an age when economic expansion is expected and a sign of economic health. Given that BTC isn't really a currency but more accurately, a boutique speculative commodity, the limited supply may be a sound strategy. Limiting circulation limits utility, and limiting utility can cause the belief that currently props up BTC to collapse.