This is not sound analysis, as it revolves around the mistaken notion that a currency is inflationary or deflationary depending on its supply. This is not the case, there are other variables involved. For a cryptocurrency to be inflationary or deflationary, or have a predictable price at all, it would require a governing body that is capable of adjusting its supply as needed. Since they don't have that, because the whole point of cryptocurrencies is to do away with central banks due to a strange paranoia, cryptocurrencies are neither inflationary or deflationary, but simply price unstable.