Fear is a big factor in investing in cryptocurrencies, and that might even be the reason some people are investing in it.
some people are looking for that feeling of exitement but dont realy understand the workings of cryptocurrencies yet and lose a lot of money.

but it does not completely determine the market, most people that fully understand cryptocurrencies  dont fear as much as the new comers.

I personaly think that regulat paper money will barely be used anymore and that you can pay with cryptocurrencies almost everywhere just like how credit cards started, people used less cash and it all became more digital

It's not just Bitcoin that can make you money, the concept has been there for way longer like investing money in a company or buying a big peice of land and waiting for the land value to go up and then selling it again.

ofcourse it is easy to invest in cryptocurrencies because it is realy unstable so you can sell it after a day and make profit of it but you can just as easy lose that money if the value goes down a lot.

It is constantly going on, not just with cryptocurrencys but also with gold or silver or just land, that is really rising in price because of the over population in a lot of countries, its not all digital, most of it is not actualy.

Land value doesn't rise as fast as cryptocurrencys but it doesn't seem to go down any time soon

I agree with you in a way, but I also agree with the 75% of the people that see Bitcoin as digital gold. the worth of gold doesn't vary a lot from time to time, its quite stable, so you can't really invest in gold just the same as you could in Bitcoin.

Although a lot of people invest money in Bitcoins to make a profit, there are also a lot of people that buy bitcoin to pay with it without the govenment knowing about it but there is a big risk in that because Bitcoin is quite unstable, for example the value of bitcoin went up about $700 in just 2 hours.

The world is evolving, a lot of the things are going digital just like maybe gold.