Comment by mlazos

Stocks are different because there’s actually an underlying business beyond “waiting for the next guy”. For example in a non-ponzi security there is long term value as a business grows. No such thing for shitcoins. Nobody is saying sentiment doesn’t matter in the actual economy, it’s made up of humans, of course sentiment matters. It’s “is sentiment the only thing that matters?”, and in the case of crypto the answer is yes.