Bitcoin may hit a dead end but there are many amazing projects people can invest after buying Bitcon. BAT already comes with an ad blocking privacy focused Btave browser and they'll pay a portion of ad revenue to ad viewers.
Bitshares can handle NASDAQ volumes and can become the gold standard of a DEX and EOS could run FB, Google, Twitter, Amazon and Netflix on it and still have enough space for DAPPS.
STEEM hasn't even hit 1 million users and Smart Media tokens aren't out yet. I'm also a big fan of WTC supply chain management and fog computing of SONM. MaidSafe is older than Bitcoin and they are trying to build a whole new internet.
Bitcoin may have peaked. But Alt coins are just starting.
You are absolutely right.
What gives these things value is their utility and the market. And as long as WE find utility in them and endorse them government and the banks can do nothing.
A few people making poor financial decisions isn't going to stop this wave.
Many thousands of people day trade stocks on margin, I'd worry about that bubble first.
My experience is that fundamentals always catch up. You can only build so far based on feelings. You need something solid backing things up. As for cryptos there is math and utility backing up. Utility is outdone by better utility and math is outdone by.... NOTHING. Math is absolute.