So the crypto Markets have seen a massive drop in a little over fort night; media goes wild, people grow scared. Is this beginning of the end of cryptos?
Simple answer is 
It hard to say whether his prediction makes sense or not, but what i can say is that his logic is similar to saying that capital-g, meaning gold will be gone. There is a reason why commodities like gold, that has existed for thousands of years. still exists today.
Bitcoin going is like saying saying goodbye to the father of crypto currencies, which he believes that cryptos are here to stay.
Unfortunately for those that may have invested much earlier this year may have experienced massive losses to this point.
But as mentioned by many, blockchain technology and crypto currencies are still new to the global space thus it will take sometime for people to adopt it.
Though it is still questionable as to whether or not bitcoin will be widely adopted (reference to Kurt Robinson of Cryptonomics), it is highly unlikely that at this stage people will abandon crypto currencies entirely. The communities are too vast and will slowly grow with time as people will seek to find new ways to deal with money. The evolution of money has brought us to this stage where people can be more financially independent and realize the real reason of the existence of money - to serve a basic social need for people.
With a 26% (give or take) rise in the global debt, it is becoming increasingly difficult to track who owes who and thus fiat currencies are slowly depleting. There has been a short term rise in stock markets and in commodities; because people want a safe haven due to global financial uncertainty. one thing is certain with cryptos is that form the time of bitcoin in 2007, it and other cryptos have been deflating in value.
In a nutshell, it safe to say that NOW, is the best time to invest in cryptos; "Buy the dip!" as traders would say. This is not the end but end of new beginning for money.
Links
What is money Where does it come from why do we use and how is it evolving
Bitcoin Won’t Last, But Crypto is Here to Stay: Edward Snowden
https://www.ccn.com/bitcoin-wont-last-but-crypto-is-here-to-stay-edward-snowden/