That goes up for Bitcoin and a few altcoins that are backed by capable developers and market movers. If you look at the majority of the altcoins, they are pure pump and dump coins. How would you analyze a market that only drives on occasional pumps ans dumps? It's next to impossible. Only thing left is to just open positions into one of these coins, and hope that you're in before the coin starts to pump. If you look at it from that point, then this is somwhat similar to gambling -- in both cases you depend on luck.