When buying crypcurrency, Buffett said, "You do not invest when you do it. You are speculating. There is nothing wrong with that. If you want to bet others will come and pay more money in the near future, it's a kind of game. But that is not investment. " Are we participating in a game?
There is more than merely speculating in bitcoin. The price of bitcoins depends on the demand of people that buys and sells it in the market. Plus side are the news and the new industries that opens their market with cryptocurrencies. To have a successful investment, I think it is best to wait until the price drops to start buying. And then patiently wait until the crypto market to become in demand again in the year.