As you say, people analyse the fundamentals of the US Dollar all the time. Currency markets are inherently speculative, but there are reasons that you must by

As you say, people analyse the fundamentals of the US Dollar all the time. Currency markets are inherently speculative, but there are reasons that you must by US Dollars. For example, if you want to buy stocks on a US exchange, it eventually has to go into US dollars. If you want to buy real estate, or commodities for US companies, buy US government bonds, etc, etc, etc. Although the day to day price of the currency is speculative, there is are underlying fundamentals that will dictate a floor and ceiling to that price. I don't know very much about Etherium, but I don't know of any fundamental reason why anyone must buy Etherium. At best it's an option among others. At worst it's simply a market based on speculation. This says nothing about the potential of Etherium or any other cyptocurrency. It's just saying that the current markets are completely speculative and it's not really an "investment" to buy it -- it's more of a bet.