Nothing much about Bitcoin's volatility surprises me. In fact, I expect it. I've bought in with a little discretionary cash, but only enough so that I don't feel discomfort when the inevitable tumbles occur. From the onset of my involvement, I've seen bubbles and crashes. That's the speculative price for becoming involved with something early on. Still, I cannot find one valid criticism from those who fail to believe in the future of this particular crypto-currency. In fact, each point from 'its lack of government backing' to references to 'tulips' are now familiar old hat to me. I can refute each and every naysayer. Still, just because something makes perfect sense and is logically superior, does not necessarily mean it will prove to be the ultimate winner.
The more one knows, the less things come down to mere chance. I know a great deal about Bitcoin. Yet a lot in life is pure gambling in the end.