Most traders still scalp stocks for minuscule profits whenever they can. However, opportunities are harder to come by and returns are a lot lower compared to a few years ago.
Are they out of their minds? Stocks can only be judged on a long-term basis, and they're doing pretty well recently anyway.
If traders jumped on every "cool new thing", nothing would be a safe investment anymore, because they'd migrate to Bitcoin to the new thing a few hours after Bitcoin has been pumped. The whole idea of investments would then just be 5-minute pump and dumps with no substance at all.
Bitcoin has a niche. It hasn't quite reached all the people that it should yet, but prices as high as they're talking about would be completely insane. If it went that high that fast, I would be terrified because it would be 100% speculation and 0% substance.
