@dinofelis. So what you are saying is that it is all a bubble? Even bitcoin? If they really are then now is not a good time to use them as a store of value.
For sure now most of crypto is bubble-sustained (what I call "greater fool theory"). But that doesn't mean that it will soon come crashing down. There are 3 possible scenarios:
1) the bubble-sustained price will slowly be replaced by "true usage". In that case, the speculators of today are in fact visionaries, who were earlier than others in seeing the true fundamental value of crypto. Adoption is then true adoption for usage, and the profile of the average crypto user changes from "gambler" to "user". That is, the demand for crypto will be less and less "to invest", and "to make profit", but more and more "to use it for real as money". Unfortunately, that is not the current tendency.
2) the bubble-sustained price will rise, and rise and rise, as long as there are more and more greater fools (also called "adoption", but speculative adoption). There will be a "last generation of greater fools" which will be the largest population interested in crypto for "profit" and which will be tremendously disappointed, because of course no more rise. The result of this can be twofold:
2a) when it starts to become clear that there's no more rise in the future, the thing will come crashing down, like a genuine speculative bubble. Bong.
2b) the "belief" in the system will have such long time constant, that the realisation of "damn, no more rise" will be spread over a very long period. We will then see a very long, slow erosion of the price, until USAGE demand will be in agreement with the price, which will be a very large factor lower.
There can be a combination of 2b) and 1). It may be that during the erosion of the speculative hope for higher prices, usage starts to increase, and the demand for usage starts to replace the disappointment of the last row of "investors".
I have no idea how high that the current bubble can still inflate. Maybe there are still factors of 10 to be taken before one hits the ceiling. But one thing is clear to me: the current price is MAINLY driven by the "hope for rise" and NOT by "usage", and that is something that mathematically comes to an end one day or another. Tomorrow or 20 years from now, I don't know. The only question is HOW it will come to an end: crashing down ; slow, long erosion ; or slow replacement with genuine usage.
The question to answer honestly is this one: "suppose that most bitcoin holders today would KNOW that bitcoin will remain at $600 for the next 20 years, with modest ups and downs, would their demand and their holdings of bitcoin be the same on average as today ?"
If the answer to the question is "yes", then the current price is solid. If the answer is "no" (which I think it is), then we are in the scenario I just described.