Everytime someone trades fiat for cryptocurrency, someone else trades the same amount of cryptocurrency for fiat. Probably the first person thinks that fiat is

Everytime someone trades fiat for cryptocurrency, someone else trades the same amount of cryptocurrency for fiat. Probably the first person thinks that fiat is overvalued, and maybe the second person thinks that the cryptocurrency is. The future will tell who is making the right bet. On a side note, I've noticed that a lot of crypto people are pretty obsessed with the USD value of whichever cryptos that they may own. "Make fun all you want, my ROI in 2017 was xx%". Well, good for you, and happy that we have now established that you still use real money to measure value, and that you are in it for the short term profit, not for some abstract, idealistic purpose.