I am almost happy that crypto is dropping like a stone. I have always thought that cryptocurrency is a poor investment if you are trying to make money in a legitimate way. I don’t understand cryptocurrency other than it is supposed to be a way of concealing assets from unwanted scrutiny. The volatility to me detracts from that purpose. It is great for paying ransoms and bribes. But buying it because the price is going up while hoping to see for a profit is like gambling: you will lose most of the time.
If I can’t hold it in my hand, it ain’t money.....................
“But buying it because the price is going up while hoping to see for a profit is like gambling: you will lose most of the time.”
More akin to speculation than gambling. There is quite a difference between losing some of your money and losing all of your money. I don’t do either.
However these events can present gift horse buying opportunities if one is positioned for it.