[ignoramous]

> Someone is trying to get some cheap clicks.

It isn't just that. The same network effects that propelled cryptocurrencies and exchanges to the moon are now facing its uglier side. It cuts both ways. There's a chance these currencies and exchanges emerge out of this boom-now-bust cycle stronger than before. Time will tell.

[brookst]

You’re on to something there. Finance is all about trends, and when to follow them versus when to bet against them.

But crypto in particular seems subject to wild extremes of irrationality. It attracts people willing to to ignore fundamentals and move serious money based on faith and intuition.

[JackFr]

Finance is really about allocating capital to productive uses.

Crypto sits on the border of greater-fool investing and Ponzi schemes.

[brookst]

More or less agreed, though crypto also borders gold rush investing, which sometimes pans out. Usually not. But sometimes.