Bitcoin has a growing number of true believers, who say it is not a bubble, but rather a world-changing revolution that more and more people are beginning to understand.

It seems likely that some cryptocurrency will endure and become very useful and popular over the long run. Bitcoin may or may not be the winner. In the meantime, because many people are currently investing in bitcoin merely to get rich, it does seem likely that the price will fluctuate wildly, causing some to lose much. (Bitcoin has gone through several massive sell-offs in which 80% of the value was lost in short order. Then again, in time it recovered from both of those crashes and marked large gains.)