It is because Forex is not hotter than Bitcoin nowadays. Gone are the days where people rely on the old means to earn money. People of today are now trying to generate income from other sources that are not necessarily generated by governments but by the innovation of today's technology. Like for instance, people earn through cryptocurrencies. The latter is a product of technology and people utilize the same in an attempt to boost their investments in it regardless of the lack of governmental support to it. Considerably, too, more people are into cryptos than Forex because of the higher chances at increasing their wealth. Hence, to pick between the two, they would obviously gamble with Bitcoin, it being in demand today.
Completely agree with you regarding to this one.For sure OP if hes still aware on this forum and realized on the things he do mention back in year 2011 for sure he would really get those words back to his own mouth seeing on the current price on most cryptocurrencies on the entire market. We can really see the difference when it comes on making profits between forex and cryptos. It might not be considered as legal or backed by government but people would normally seek out for things which they do see that can give the opportunity on getting rich.
It does not seem appropriate to assume that the simple fact that the crypto market has shown great volatility throughout its first years of existence is a clear sign that it is a more profitable or convenient business than the Forex market.
Many new investors who have joined the crypto universe moved by the great popularity of bitcoin in recent years, are making the mistake of assuming that the behavior seen so far in the crypto market will persist forever, but just take a look at coinmarketcap to check that the large pumps that used to be seen in dozens of cryptos every day, are not happening as often, a sign that this market is entering a period of consolidation that will lead to mitigate volatility.
On the other hand, Forex has the immense advantage of managing extremely high leverages that allow you to multiply your earnings potential, as well as being a regulated business with fewer possibilities of scam.