When the crypto market has no new entrants and pours money into. This market will die?
By your logic any market is MLM, if you stop putting money into any business it'll eventually die.
If bitcoin-like cryptocurrencies were eventually confirmed as a "Ponzi scheme" tool, then speculation about Bitcoin will only remain a strong mark in the history of global speculation. However, a heavy topic that stems from Bitcoin is: Since any private behavior that attempts to “decentralize” is a major threat to the central bank, who will restrain the super-currency impulses of central banks? Perhaps the problem of cracking the super-currency of a strong central bank is to prevent the encrypted “currency” from breeding the “Ponzi scheme”.