Most people buy lots of lottery tickets that don't win. What a waste of money! What a bunch of suckers! If only they'd been paying more attention to the lottery tickets that won, they'd be rich now!
Ethereum has the best fundamentals right now in terms of user adoption. It's transaction volume in terms of number of transactions is ahead of everything else out there. ETH has some technical risks though. It has uncapped coin issuance that is currently quite high ~14% and they want to switch from the proven proof of work mechanism to proof of stake and it isn't clear that will be successful.
Beyond that Bitcoin Core is crippled and everything else has pretty low adoption though some alts like Monero look like they might find a niche in dark markets where strong privacy guarantees are important.
At least that's how I see it. Don't know jack shit about cryptocurrencies, but this seems like basic economy.
Especially tulips that burn through soooo much electricity.
The longer you go on trying to call peaks and slandering crypto as "human stupidity", the more cognitive dissonance will form, followed quickly by the rationalizations needed to dispel it.
Everyone in hysterics about a bubble is every bit as foolish as those shouting about going to the moon. We've had over a year of steady growth punctuated with regular corrections.
Will there be a bear market at some point? Certainly. But the proof of bubbles is in the popping; major price action down to a tenth of the peak or so. That doesn't just happen because of a bull market, it happens in the wake of a major speculative wave or something that fundamentally compromises value.