Rory Barr;334470 wrote:Are all these this just FOMO purchases or something else…?
That's certainly what drives the price.
Also, media and 'enthusiasts' make a fuss on price rises, then ignore for long periods .. Just looking at my buy-and-hold crypto portfolio (largely Bitcoin, then Ethereum, then Solana, Cardano, Polygon...), the overall price isn't up much from November 2021. You've not really missed much – unless you happen to be all-in on the right coin (very much a space for gambling biases, that make you think you're doing better than you are).
I think there is an element of tech investment. The fact large financial institutions are using Ripple (rather than cash) to do global transactions, and individuals in Russia and China are using crypto to move their wealth around, prove there are use-cases, and the current financial system isn't really fit for purpose. But I think crypto needs an iPhone moment, where the tech actually becomes practical and useful for everyday people, and you just can't know whether BitCoin proves to be that thing.