As humans, were easily tempted to conform to what everyone around us seems to be doing. Wide media coverage can heighten the sense that were missing out on something that everyone else is doing, and the more we hear about something like cryptocurrency, the less risky it seems to us. Simply because its more familiar, people are more willing to get involved.
Thus, a huge number of people every day is involved in this industry. I think that this is very reminiscent of how any bubble develops. But now this bubble has a global scale.