Basically, yes. Some nerds & pseudo-experts will say it's about technology & stuff, this is the future bla bla bla... it's not. It's about pumping coins & then dumping them on somebody else for more money. That's it. The whole market is driven by the idea to make big money relatively easy. Everybody is in for one thing: $$$. The question is: which idiot will hold the ponzibag at last?
Spoiler alert: Probably all of us, because we allow the system to quietly eliminate cash & therefore our freedom. Somebody wants us to accept digital currencies & this is their test run, their bait & most people took it. Total control & transparency. Forget the 'btc is totally anonymous'-bs. It's all bs, no digital currency is anonymous, only pseudonymous. Government can always identify you through exchanges or even the system itself, the blockchain saves every transaction with your specific wallet adress attached to it. Plus nobody knows who created Bitcoin, for all we know it could be the government itself.
Unfortunately nobody seems to care, nobody seems to notice, people only think about the risk that they could lose their money with an investment. But losing their freedom is not an issue to worry about... Critical thinking? Negative!