Isn't it is more like investing when you pick, mine, hodl and sell.
If you have the patience to HODL you can get lucky. I wish I had read this advice and paid attention to it in early 2017. I would have made at least $200K.
There are some great projects out there with really interesting and innovative ideas behind them - especially amongst the various coins that use variants of the cryptonight algorithm.
Of course about 90% of coins are either scams or will never really take off, but part of the fun of this hobby (if it is a business to you I pity you) is picking the good ones.