depends on one's level of insight, skill, and focus.

if someone is new and doesn't know a whole lot about the territory, similar to gambling, yes. but the more one gets immersed in the markets and learns about market behavior, the less risky because they're taking calculated risks with an intentional strategy, set objectives, and principles governing the decision making process.

though, it also requires a certain psychological profile to manage being able to execute such strategies effectively. personally, as stated in one of the other comments above, my preferred strategy in crypto is buy-and-hold for long-term investment, in projects I morally align with and whose vision I support.