This applies to every aspect that involves money, profit and lose.
Investing in crypto, or in a company, or even if you invest in your own company(project, or self employed) is always gambling!
The difference is the risk management.
Please don't tell me that you have that much faith in companies share.. I can point out many situations that you are wrong. Not entirely, wrong, but haven't you heard about companies with great financial status have bankrupt to keep your invest money (and the owner has a great time in his/her vecation in Hawaii)
Or stock exchange frauds..
Thank you for your comment. It is a great opportunity for a discussion...
The "how to read" is the million dollar question in every trade or investment. Indeed, this is a skill and I totally agree with you about this.
The truth is that your previous statement ("No one can predict the future price of any crypto currency. Unlike owning shares in a company, where you at least have a little knowledge of the company's financial status") said to me that you were reject the fact that someone could have profit from cryptos...
(followed you. I like the knowledge trading! )
"finding one that will produce similar long term results is not much better than buying a lottery ticket."
More luckily is to be struck by a thunder... Five times...
I do like the second approach, too. I like that I am getting involved more, than hodle and wait.