First of all, the market rose in the first place because of the ads and everyone knowing about bitcoin, cause a tremendous peak in price. But the moment everyone started to see a crash, everyone also paniced.
Second, the price is too high right now, and we can see that because people only invest in crypto because of the rewards and don't think of the risks.
Third, I think that the blockchain system can and will be used in the future.
Unfortunatly, the prices are caused by people, and if the prices lower, people can't handle a crash, because they only see their value decreasing, and if people withdraw their money, causes the dip.
We can also see that the market has now much lower 24h volume (beeing it today $16 623 182 325).
We can see a HUGE dip in the global charts, it almost hitted 850 billion dollars, and now it sits at 330 billion because of all the crashes.

But either way, I agree with the post, tell me your opinion on my comment, thanks!