the current price will collapse dramatically
Would you be willing to promise to sell me 100 BTC (or a bag of peanuts, if bitcoin ceases to exist) in five years for a total price of ten dollars? Seriously, with signatures and escrow and whatever we need to make a deal.
If not, what price would you ask?
There is no case in history that I'm aware of in which a commodity can sustain a 1,000,000 fold price increase in the space of a couple years and not come back to reality.
I agree, for commodities I am aware of. But there is also an annoying statistical anomoly that I see frequently. Country X has the fastest-growing GDP in Region Y. It's true, but Country X is really tiny compared to the others in that region. It's easy to grow fast when you are young and small. I once doubled my body weight in a week, back in my zygote days.
Bitcoin has been around for a while, but if it has a future of wide global usage, it is clearly still in its infancy.
"This time it's different!" is a sucker's mantra. But still ... this time it's different. Was there ever another commodity in which the total supply was permanently capped? I have compared bitcoin to genuine Picasso paintings. The total supply can only decrease over time. Fashions influence their value, but they can't lose value because of decreasing scarcity.