Prediction for the case a cryptocurrency drops dramaticly

Most of the poeple out there does not exactly know what blockchain is and how it works.
If a cryptocurrency with a high amount of investors drops dramaticly, u will read in many newspapers how much people lost nearly all their invested money.
Panic will break out...Trust me!
Many people will never think about of investing in cryptocurrency again because they lost their trust in it. I am pretty sure, people will invest in gold in this case, because it is something they can hold in their hands and not just a number on a screen.

I heard from a crypto-sceptic-guy he would never invest in cryptocurrencys, because it got not a real value and it is only worth, what an other person is willing to pay for it.
You will never know what exactly affects the prices of the currencys it could be all manipulated by some criminals who earn trillions of dollars.

Let me hear what you have to say and write your oppinion in the comments