At first, the delusional paradigms that I bought into were rewarded. Then the markets topped out, but I held out as I watched over 120% gains turn eventually into 30% losses (on silver, gold not so bad). I still have all the physical metal that I bought. I could get the same amount of metal today for a good bit cheaper. On the otherhand, the penny did start to drop with the 'digital' silver that I purchased on the precious metals 'bottom' back in 2012, which I offloaded most of before I took another good beating on that.
I understand your frustration. I also like metal, but I know it's just a commodity so it will never change the world in any shape or form, just your personal well-being. Bitcoin *has the potential to change the world* - maybe it will not, but so far it does look to be on the right track
When I first understood, even imagining that any government would ever discuss bitcoin was far-fetched. Three years later, there's no country left where it has not been discussed at the highest level.So, from that point of view, the wisest thing to do is just hold and consider yourself lucky that you understood before the 99% did. Yep, prepared of course that it will all fail somehow and show us all its ugly butt, but the opportunity is too grand to miss. As for speculation, bitcoin is a mostly unregulated commodity trading - exactly like metals only even less protection against cornering - of course the price would jump all over the place, but since it's very limited in nature there's only so far that you can push the price down - even with a whole might of China behind you
So don't try to predict small pump-and-dumps, play safe and increase your stack while it all unfolds and becomes mainstream and boring.