Cryptocurrencies have been massively rewarding for both early investors and savvy traders. Take bitcoin for example. All those who invested before 2017 have seen returns greater than 550%. Traders on the other hand greatly benefit from bitcoin’s significant volatility: one day of bitcoin volatility is nearly equivalent to volatility of an interval of roughly 23 trading days for the S&P 500. For traders, volatility brings opportunity. In this article I will focus on the reasons behind a grim o...