Both. There are ongoing developments in Decentralized Finance and Identity Networks on Ethereum that are reinventing more parts of the current financial system, as well as the shift to proof-of-stake that is making Ethereum more scalable and efficient.
I focus on Ethereum just because it's the center of innovation in crypto nowadays. Bitcoin has only incrementally changed its software throughout the years and only gains more use as a store-of-value as demand for it increases (hype cycle).
After a bull market run it generally takes 5-10 years to reach its peak again.
You're right, my generalization is too early. It is based on crypto's correlation with the overall stock market since it is seen as an investment, which has always returned positive over a 15 year period. But this is more speculation than anything else.
Ethereum is not decentralized. Decentralization is the most important thing in a blockchain. The sooner everyone realizes that, the sooner we can start building momentum on the chains that are viable.
On almost every dimension Ethereum looks like the most decentralized network out there: Most nodes, most validators, most distribution of validators, most clients, most development teams, ease of making your own block.
Because 5-10 years is a long enough period for another generation of youthful greater fools to enter the market who weren't old enough to have been burned by the previous cycle.
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