I think that what has been happening with Bitcoin lately makes it seem much less trustworthy, no matter what is the cause. I would be really hesitant to by any cryptos right now, especially if I were a newcomer into this space.

I would be interested in some statistics regarding how many people own crypto. I think that would be more relevant to a potential future developement of this "industry" than how much were the traders able to spike the price and the market cap.

Therefore, if we looked at the number of People who just own and sometimes use Cryptos vs Crypto traders, my theory is that the rate of traders has increased and the movements on the market are not regulated by the randomness of normal users' behavior as much as before.