It's obviously bullshit.  It's extremely unlikely that we're talking about more than a few million in total.  I hate when people overestimate the popularity of something they're doing, just because they're on a forum where people come to discuss it.  Most other places, people are only vaguely aware of the concept and even some people who currently own cryptocurrency are unaware of the banking system's current state (and are in it for more fiat).
BTC has had repeated bubbles.  There's the most faith in it right at the top of the bubble and the least right after it.  The ideal period is that part in between when a bull market is just beginning, like early 2016.  That's when merchants actually start accepting it as a decent payment system.  Most merchants don't care about stupid rises in price, you just hear about the few that do care as soon as the price leaps.

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What people can't get through their head is that there won't just be a sudden point at which the general public decide "alright, Bitcoin's pretty cool, let's get using it".  BTC will always be divisive, and there will only be a very gradual shift towards usage.  

This rise in price is NOT a "paradigm shift", it's only a "price shift".  Merchant usage is not getting much higher now than it was a few months ago, if at all.

I think I will have to agree with him because even with my first into the crypto-world, I had the misconception with several negative readings on the internet concerning the subject matter and this put some fear into me which was responsible for the making of some rash decisions but one year after I joined, with others counting eight or nine years, I concluded that its a myth that hopefully will not come true.

Some companies survived the dotcom bubble and live to this day, and if we are in crypto bubble now, there's a good chance that Bitcoin will survive it, because Bitcoin has real utility and innovation. Also, there's actually not so much value invested in alts, millions of USD in their marketcaps doesn't mean that they've literally received those sums.

hundred of thousands seems high. I'd perhaps say thousands. But he is right. People will not accept it because they dont understand it. What is the alternative though? gold?

I didn't think of it as a trend at first. I initially thought that cryptocurrency or Bitcoin is a scam, and only used for illegal means. I had a hard time at first to conceptualize the idea of Bitcoin, so I lost interest on it when I first heard about it. I immediately dismissed it because of my fear that Bitcoin is fraudulent and devised to fool people. Its amazing how long Bitcoin has sustained for this long and continues to grow.

I too think of it that way when I initially encountered bitcoin. Scam has been so rampant that anything that has an earning potential would turn us to be skeptic as we don't want to lose our hard earned money. Later on as I research more about it and knowing it has been existing for some years and then stumbled in this forum made me realized the existence of cryptocurrency world. That aside from foreign exchange and stocks, there is another thing that can be traded and there is earning potential as well.

the misconception about the  crypto currency that it is only for the tech savvy, computer hackers and criminals and only applicable for rich countries. whereas
bitcoin are spreading now on the less developed countries to open an equal opportunity to earn.

Biggest misconceptions:

Cryptocurrencies exist to earn people money on the upside only.  This must be millennial thinking because every other speculative financial instrument on the planet has profits via puts or shorts aka the downside.

"What goes up will always go up!!!!" LOL

Banks are not working 24/7 to co-opt cryptos.

Governments are not developing their own cryptos with low fees, instant transaction times, and using their control of the media to sell it to the public.

BTC will last more than another 3 years before a flurry of competition makes it resemble Tulip-mania.

"Bitcoin is an investment."  No it isn't....it's speculation.  It's gambling with a technological twist.

"Those who hold will get rich."  Those that got rich bought years ago and dumb luck made them rich.  The fact that they can see that cashing out as an option as something that they must be prepared to do daily and on a 24 hour basis is what will keep them rich.  For when this bubble pops, lots of people are going to get burned.

1. Scam
2. MLM
3. No Value
4. i dont want to go to jail
5. Waste of time

In short most non-bitcoin users are not aware of the value and uses of bitcoins. In mainstream media they only feature bitcoin as a Laundering tool for money and people are being put to jail by using bitcoin