One might argue this is the type of behavior that causes initial investors to get rich. You can't sell for a profit if new people aren't buying.

I am not invested in cryptocurrencies. The technology is interesting, and has applications, but the specific implementations are not being uptaken as legitimate payment methods at nearly the adoption rate expected for the trillions of dollars of market capitalization for cryptos. The reduction of the bank as the middleman and speedy and cheap transactions didn't happen, instead its probably cheaper to paypal someone money at this point than send them bitcoin and have them cash out.

Long term, isn't the increasing value of a crypto at odds with using it as a payment? Who would want to pay for something with a crypto if the crypto is gonna be worth more tomorrow?