Anything that soars to the moon over a relatively short period of time (for no good reason), and then plummets into the dirt by 85%+ within a few months, isn't for me. People try to justify it as a good investment by averaging bitcoin's returns over a number of years. That doesn't really work. Averages ignore the extreme swings. Once you look at something called draw downs (peak to trough price movements or volatility), people should be able to see what a speculative ****** these crypto play money schemes are. If you have $1000 hat you were going to take to Vegas, sure... go for it. But if you're thinking of putting real money, or some major percentage of your portfolio into them, DON'T.
I'd say the same thing about the vaping and weed stocks craze that's currently sweeping the investment landscape. Sure, some will make a lot of money. But a good many more will wind up losing what they make and then some. Same thing happened with dotcom stocks in the 90s... and tulips several hundred years ago. People are so anxious to find the latest get rich quick scheme, instead of putting their money into slow & steady investments that have a real track record. Well, I guess as long as there are suckers born every day, shysters will always have pockets to pick.
