I am writing this out of interest, after half a year of unexpected absence I am ready to re-dabble (if that is even a word) in the ever growing world of cryptocurrency. I had a friend who saw his modest investment of under 300 dollars in Etherium and Litecoin shoot to a value of upwards of 2000 dollars in only a month or two. Now although there are probably far greater returns that have been made in a similar time period, the fact that I have witnessed this growth with my own eyes astounds me. My concern as I learn and invest is that that the influx of new investors into these respective currencies is indeed based on a fear of missing out and that none of these people are using them for what they are intended for. Now, this brings me to fear that the real intrinsic value of these currencies is not the reason that people are investing and thus the monetary value of the coins is surpassing its actual worth which is the definition of a bubble. I personally believe in the longevity of many of these currencies not only as ways to make quick cash but when investing my money I do not want to lose it all because of what I just laid out above. Is this a reasonable fear and most importantly is it even a fear at all, meaning am I completely mistaken about anything/everything because if that is the case could someone kindly show me the light.
I know my account has been stopped and started many times but I have nothing of value to do for 4 months so might as well try to do something meaningful, I truly find value in this platform and its users
Also sorry if this is written badly i had to write it in a rush