I'm thinking we are slowly moving past the "fraud" stage, because people have started to see that cryptocurrencies are not a fraud. We are currently experiencing the "it's a bubble" wave, which I think will continue until the price stabilizes. It is currently how strong a player bitcoin will be in the finance world in the future, but it will definitely continue to be influential.
Most people still tag bitcoin as a bubble since they still don't get i or haven't studied it thoroughly--and honestly, even if they do, they'd still be unsure! My take is that the price will never stabilize until big merchants and names in the world economy starts using bitcoin for their enterprises. For now, it will be another medium of investment and value, but for exchange? Not so much.
And the only fraud in here are the banksters who have been scamming us since their inception.