Oddly, I find myself more inclined to think that crypto is a ponzi scheme when the price rallies. Perhaps it's the cynic in me. I don't get FOMO, I just feel so

Oddly, I find myself more inclined to think that crypto is a ponzi scheme when the price rallies. Perhaps it's the cynic in me. I don't get FOMO, I just feel sorry for people like my cousin who bought into BTC near the highs (while berating me for telling him that it was a loss-maker). I don't see those peaks as proof of validity. I just see gamblers gambling and fraudsters defrauding.