I do agree, the bubble was driven mostly on speculation, most of us included. It may go lower too. What I don't agree with is it not being valuable. Bitcoin and Litecoin value derives from its scarcity, immutability, censorship resistence, and ease of value exchange.

Fiat currencies are valueless though. They hold no value, only given value based on the trade of other currencies and goods globally, no intrinsic value in the currency its self. It can be produced out of thin air to try to "fix" economic woahs and increase deficit spending because debt continues to build. Fiat currencies always fail without expectation through out history, USD is no different. There will be a point where each government will Quantitative ease themselves into a hole you can't get out of, just how it has happened every single time in history.

When you truly understand the economic and monetary machine of the world, you realize that fiat is a scam of all scams. I believe bitcoin and litecoin can act as better SoV than gold and silver as well. The ability to exchange value globally in minutes / seconds is unheard of for a scarce property. Not only this, but no one controls your value. Gold and silver need third party support to allow for safe keeping. BTC and LTC are also fully transparent and allow you to now exactly how the supply curve works , rather than trying to guess how much gold and silver is left on earth to mine. Gold and Silver will have there place for sure until the end of time, but true cryptocurrencies will be an excellent alternative for sound money.