I think that applies to traditional currencies as well. Most of Mike Novogratz career as a trader was spent watching and trading the USD/JPY pair or, as his wife often used to say "obsess over a bunch of squiggly lines that don't move all that much," so it's all relative.

Still, you have a point, which is why I don't bother with trying to second guess the market. Buying and holding is a lot easier, and often times much more profitable than managing an active portfolio.