Yes, but not all cryptos are created equal. There will be some separation of wheat from chaff before all's said and done. Also, there are many people who make a ton of money on volatility, that is, on price movement as opposed to buying and holding something. These folks won't care who's on the wrong or right side of history. They'll make money either way. It's the difference between trading shares of a company, where you need to own it before making money off of it (yes, I know about shorting, just using this as an example) as opposed to trading a derivative, like stock options, where you don't own the actual stock, but instead trade based on what you think its price will be at some point in the future.