New things come along, and they don't have to make sense in the old worldview in order to be good. So the analysis of 60 year olds, even the really smart ones, is less valuable than it sometimes appears.
HOWEVER -- the opposite is also true, "flavors of the month" come and go, and proving worldwide utility takes more than convincing a lot of people to buy for a period of time.
It's going to take years to see the outcome and who is right. Humans are absolutely fucking terrible at predicting the future. Don't buy the hype.
Do your own research, run your own experiments, and hedge your own risk.
If it fails to continue growing relative to the perception of the people buying it, it's value on the market will plummet, and that will likely cause a run on the exchanges.
If you were forced to find buyers for your btc on your own in a panic, without the help of market makers, then collapsing nominal market rates would not be the main problem of "btc millionaires", getting that collapsed rate, or even just a significant fraction thereof, would.
I guess if by being rational you're avoiding burning your hand, you're also missing out on the hen who will lay golden eggs in the future. In a few years, $10,000 might look peanuts to pay for Bitcoin. It seems logically absurd to think so, but time and again, the skeptics have been proven foolish and the believers have made the gains.