As you said
Remember, when you are selling, someone else has to be buying. Therefore, when you profit, someone else always makes a loss.
Is this mean cryptocurrency business is nothing but a game of speculation? We say this in hindi, "topi pahnana".
I know slowly cryptos are taking place of fiats in some parts of the world but their real life utility is still not available. This speculative price of cryptos is a big barrier before the growth of cryptos.
This is the reason why regulations are coming into place gradually. Many of this ICOs needs to be regulated. Then pump & dump groups, Insider trader etc
Some regulations needed but those should not be detrimental to the progress of crypto market.
Not only crypto, stocks and commodities. Prices of many things are speculative including real estate. There are fundamentals driving prices however for these things.
I agree. However, commodities, stocks, real estate etc have something concrete but so far cryptos have nothing like this. It is virtual and nothing else. I hope in near future cryptos will change their attitude and become a tool of transactions just like fiats.
Speculation largely works on basis of demand vs supply. Irrespective of what the item of consideration maybe. Anything has any value because we attach those variables to it, nothing has intrinsic value. Cryptos will take time to mature, now it's mostly hype.
I agree. Hope for a better world where we have decentralized money instead of governments owned fiats which serve only a small group of people.