But for crypto skeptics—notably NYU professor Noriel Roubini (aka “Dr. Doom”)—the fall has confirmed suspicions that it’s all a scam rigged by developers who exploit gullible investors by telling them “hold on to dear life,” to their investments, or HODL.

It was only three weeks weeks ago that Kevin Davitt, a senior instructor at The Options Institute at Cboe, was noting how bitcoin futures appeared stable in light of stock market volatility. Bitcoin, the thinking went, was past its adolescent mood swings, and was ready to settle down and get serious. Once stabilized, cryptocurrencies could be trusted to become the digital cash their boosters have promised. World domination would soon follow.

Life comes at you fast in the crypto world, and investors who not long ago were waiting for the next surge in prices are now wondering if there is a bottom. This Thanksgiving, they’ll be grateful that at least the holiday weekend’s lower trading volume should pause the slide.

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