I think we have a lot of investors who have invested without knowing what they're buying, and other investors who have invested solely on speculation that the clueless investors will continue to make bad investments. The result is that nearly every cryptocurrency is massively overpriced in comparison to the actual value of its underlying product(s).

I call that a bubble, and that bubble will eventually crash. The bad cryptos will die off, while the cryptos with real products will likely take a hit, but survive. The heavy investment in mining hardware and blockchain technologies guarantees that this technology has a future, but it will be far different from the endless junk ICOs that we have today.