You make a valid point. People see things like this and lose all perspective and, as you say, smart people get stupid. They plow their savings and sell land to buy big into crypto then crash the market by selling out at a loss at the first bear market because they were desperate enough to risk what they could not afford to risk.
But can you blame them? Life is hard and requires money to make it easy. People look around and see millionaires and billionaires, they look around and see celebrities, they look around and see corrupt political officials, they look around and see that their university education is taking them nowhere, their job is taking them nowhere, their marriage is a financial and physical trap and that the paths to get to something better are almost all closed or faaaaar too long.
Then crypto comes along. Investment for the masses, stocks and bonds and forex but with far more dramatic returns! The volatility! The possibility! The adventure! The hope!
Can you blame them? I don't because I am stupid too 😁
Valid points, 👏👌