RE: 200 billion USD cryptocurrency market capitalizations!
Sure)
Well, let's image you spend awful time building your little playground for your and neighbor kids. It works like a charm, sure with some issues like unprivileged being frequently left out, but overall it is acceptable to to them. Then one day some foreigners are coming over and start occupying your cherished playground, while at the same time bullying your neighbors kids. You taking pride of what you have built would not be too happy about it, would you?
Imho average governments with raise of BTC feel threatened by giving up some of the control of the playground. And knee jerk reaction would be to ban it - out of system out of sight.
Smart governments (like imho USA) would express solidarity with others, while leaving enough backchannels for crypto to find its way back into the system.
The problem is we don't have enough of those)
As for hedgies - they are of course agnostic, but for them it is business. the ICO rush we witness? Was 8 out of 10 times promoted by hedgies backing, read paid ads crowding out the little guys.
As a result the crypto perspective is changing. Deep pockets coming in means we public as a whole are playing less of a role in directing the crypto development (read giving up the control), but also have an opportunity to coattail / ride the waves of next ICOs on the back of hedgies effort. Current example - BTC steady rise.
But it would also mean we should be very nimble as change in mood of those guys would mean for some alts a sharp rise or a fall. By contrast back in 2013 just about any coin was getting some attention.
So imho we are for more of a roller coaster ride with increasing stakes. Which should be fun)