Yep. The crypto market is subject to large fluctuations. It always has been yet over time it has steadily risen faster than any other asset class. His claim that it’s all just speculation is laughably ignorant.
The crypto market is risky, volatile and has so far been very profitable.
After examining it I believe the blockchain tech has value and can be useful for different purposes but Crypto itself remains, in essence, used electricity.
I wish good luck to those speculating in Crypto but feel the day will come when it will go the way of Tulip bulbs.
That is not to say there isn’t a place for digital currencies in the future. The current clutch of Crypto, however, is based on nothing but the idea of Crypto having value.
A fair counter to that is the same is true with “fiat money”, but it’s not a fair comparison when it comes to first world currencies. Zimbabwe? Sure.