Could it be a bubble?

I would like to ask you about the current status of cryptocurrencies.

I believe in Bitcoin but the recent events (bear market, devaluation, etc) and the control of the most part of Bitcoins by millionaires make me think that it's going to turn to something similar as fiat currencies (Maybe not being controlled by governments but being controlled by companies or rich people).

I would like to read you thoughts, fears or any idea about it. Do you think that this tool could be turn against us??

Apologize for my English. It's not my first language.