Long term if you believe that the technological advantages of cryptocurrancy will result in widespread global acceptance, then the GFT theory doesn't apply. In the meantime, a lot of technical traders will make money from the greed/fear cycles of CCs. In the last couple of months we saw a huge spike in the price of bitcoin and other CCs as people raced in like the gold rush not wanting to be left out, then the smart technical traders sensed an overbought situation and a 30% selloff occurred as they took profit. You can expect similar types of cycles in the future until CCs are accepted by the general public.
Technological revolutions almost always go through three investment cycles:
Stage 1: Early visionaries. They are the investment capitals, angel investors, entrepreneurs that put their money in an infant technology like the personal computer, the smart phone, the internet search portal, video games etc.
Stage 2: Institutional Investors see the rise of a new technology and begin pumping money into it. This topically occurred when companies like Apple, Google, and Netflix issued their initial public offerings.
Stage 3: The general public becomes aware of the new technology and begins to invest in it as well as buy it and use it This is the final stage.
The way I see it right now CCs are in the process of moving from Stage 1 to the beginning of Stage 2.
