Re: A matter of scale
I'd mostly agree - except that the value of ANY asset CAN drop like a rock from one year to the next.
For bitcoin, the issue is that its value HAS dropped like a rock from one year to the next.
Now, "past performance is no indicator of the future" - but the underlying issues with bitcoin that lead to its extreme volatility have yet to be resolved, so I'd say in this case it is.
This is true of many asset classes in their early days until the issues are resolved. Will it happen with bitcoin ?? Will national currencies got the way of the Dodo ?? Who knows...