I really dislike all of these crypto pyramid schemes, which I view as a purely wasteful endeavor that rewards speculation and con artists, but it's far too early to gloat.

Time and again we've seen dips - and this nonsense always bounces back.

This looks like an overall market correction, which we're overdue for, rather than a fundamental collapse. Maybe some of the more blatant fraudsters will lose their shirts, but at this point I wouldn't dream of betting against this stuff. It's simply become too big to fail.