The more fluctuations like this (this was very big), the more people will lose their trust in cryptocurrency.
Just wait for these people to start realizing that their fiats are worth nothing once the high inflation rates start to kick in. There is much more in play than just the speculative value of crypto to fiat IMO :)
I would rather say there will be, because nowadays apart from a few exceptions cryptocurrency is only speculation and gambling for most people. And also a lot of people are in because of the hype.