Well, sort of. Its designed so that the number of bitcoins in circulation approach some constant, but that doesn't tell you anything about the value of bitcoins, because the long term value of bitcoins is going to be something like the value of the market served by bitcoins divided by the number of bitcoins. So if, say, Silkroad gets shut down by the authorities then I expect the value of bitcoins would crash. Or if banking regulations change to make using bitcoins more cumbersome, or whatever. And you'd expect to see the value to bitcoins drop during recessions.