Well, that is the decentralized world we are in presently. I believe no smart money will be investing in scam projects anyway, so let's assume all those spent on scam projects to be fool's money (no offense!) and asides that, I believe this market will grow more than it is today when possible regulation starts kicking in, which still does not change it from being decentralized, but at least will help put some law in place as it is really needed whether we like it or not. A lot of investors (or will I say some present whales) may not like that, considering the entrance of institutional money in the market which actually do have its advantages and disadvantages with most of it being better growth and market maturity compared to the huge fluctuations that we have now. And with that, there is still enough money to fly around eventually.

With respect to the OP, apparently, we are still in a bear trend and we really would not need a soothsayer to know the bottom has not been hit yet and we would still get to see some long period of consolidation as well which when we put all these together is not just some few months thingy. However, it is still the long run that matters anyway.