Speculation is driving up the price, but it's idealism that prevents it from dropping too much. For example; I bought about USD $1000 of cryptocurrencies a few

Speculation is driving up the price, but it's idealism that prevents it from dropping too much. For example; I bought about USD $1000 of cryptocurrencies a few months ago, then it grew to $15K so then I sold $1000 worth to get my principal back. Now I feel like I have nothing to lose. My portfolio says that I have $14K of cryptocurrencies; that represents a lot of money for me and yet when it drops by $2K in one day, I don't feel anything and I have no plans to sell. I don't care much about what happens to it in fact. I wouldn't mind if it dropped by 90%; then I would buy more. Cryptocurrencies will always exist from this point forwards so they will always have value and it'll always be proportional to user attention. User attention is fickle/volatile but when you have it, it's valuable. It's like religion; religious organizations offer no intrinsic economic value and yet they make a lot of money and their assets are worth billions.