There's plenty of speculation, to be sure, and more risks than we can count.
But for entrepreneurs and tech investors, crypto and the underlying blockchain technology has a particularly attractive quality that's unique in today's tech landscape — it's about the only high-growth area not occupied by the industry giants.
Think about all the buzzwords like cloud, robotics, internet of things, virtual reality and artificial intelligence. In each case, the names that come to mind are Apple, Alphabet, Amazon, Facebook and Microsoft.
Those five companies are worth a combined $3 trillion and have $530 billion in cash. They're big, getting bigger and building the computing platforms of the future.
For Chris Dixon, a partner at venture firm Andreessen Horowitz, their relative absence from crypto and blockchain is a welcome sight.
"A big challenge in the start-up world is that we live in an era of very powerful incumbents," Dixon said, in a recent interview with CNBC.