My best guess is that the "store-of-value that can't be manipulated by banks" is effectively over. Big banks it seems will take over the trading volume of the big crypto coins and develop their own exchanges.
Doesn't matter one single bit. Goldman Sachs can't mine gold and control its physical supply, but they sure can play with its market price. So they can drive down the futures price and then hoard physical bullion on the cheap if they have a large institution or country wanting to accumulate gold reserves. Rinse, repeat. Finance 101.
Also, bitcoin as it stands right now is pretty useless compared to other cryptocurrencies. The value of bitcoin long-term is tied to the core team's ability to make the necessary changes to the protocol and to do it fast before another currency overtakes the lead of the cryptosphere. This is not gold, this is a world of software that changes and evolves constantly. The bubble for bitcoin might burst soon, but other coins that provide actual value will take its place.
I see no reason to consider that, though. You'd have to say that, not only the US dollar, but every paper currency is crashing, along with gold. That seems quite a stretch.
That is exactly what the cryptocrazies are stipulating. It's cryptocurrency vs fiat. Seen from the fiat perspective, it's an obvious bubble. But if you're on the cryptocurrency side, it's barely the start of a massive and inevitable shift.
I think there are so many kids that did well in science and math and love science fiction and probably enjoy dabbling in some kind of tech libertarianism and have a certain naïveté about cryptocutrencies and what will happen in society. I mean this in a nice way but the view that the apparent obscene volatility of cryptocutrency is a sign of it's stability and the USD is crashing, is an intensely delusional view. That really cannot be understated.
Right now, this store-of-value is being manipulated by whales and exchanges. Bitfinex has allowed illegal wash trading for months, there is evidence that points to insider trading on Coinbase, it's entirely possible that exchanges have been front-running their customers...
The market is more free and open with Bitcoin than our own stock markets. Bitfinex and Coinbase are just two of hundreds of exchanges. There's even localbitcoins, which allows you to trade directly with the other party. The ecosystem has come a very long ways and is the freest market in the world.