The former is a belief. It always reflects the imagined realities of those investing--we assume that business reality catches up with them, and it mostly does but not always within a predictable time frame.
Always in play for goods and services, but this is a crypto currency – it's supply is mathematically limited, and it's value is fully market-dependent – determined only by players on the market.
It's based on the Law of Supply & Demand, which is always in play.