Now, I would consider cryptos to be inefficient. That's a good thing because our competitors are fellow humans, we are all eyeballing the same charts, reading to get a feel for the market. Prices sort of make sense. You can explain it because you can know enough as an individual to process it.

When I use to trade forex automatically, my buys and sells had nothing to do the fundamentals. I did not care reading about the news, bothering where to buy and or sell. I really had no need to look at charts. I just looked at my results and tweaked the system. Boring. I had to do it because forex was so big and nothing made sense. You could read as much as you can and try to get as much information as you can but you will never know enough to trade as a human 'eyeballing', 'feeling' or understanding the market. Cryptos at the moment is great because you can still trade as a human (manually). Because of it, prices were able to go so high (and also crash phenomenally). That's a good thing in trading.

With automated trading, I think you will see a lot less phenomenal price hikes (and also price dips) because as the market becomes more efficient, prices would tend to revert back to the average as soon as they become even slightly overbought or oversold. The good thing is that at the moment, no one knows what the true value of these cryptos are. Prices will therefore continue to move in unpredicted ways. Because of this, I think many algorithms/automated trading will suffer great losses at some point since most will likely not have the data to have tested such adverse conditions when they do occur. That hopefully, discourages their use.