Even Bitcoin got called a scam when its price fell.
I watched the entire fall from the first pump to 1k. I read the Twitters of people who had lost money margin trading, on Gox or simply buying at the top then selling in despair at 1/6th or less their investment. People said Bitcoin was "over". They said bitcoin had no future it was time for miners to pack up and go home, because... it was no longer profitable.... Well if you have bitcoin mined or purchased at 200$ after a bunch of hash-power left the network I'll bet it is profitable now.
Yes. That reinforces the idea that it's important to read investment in the opposite way that people's emotions work. When people are excited, they buy in too high. When people are glum they sell out too low. The people who are doing the opposite are selling to the overexcited, or buying from the overly depressed. The chances of them making money doing that are perhaps still risky, but they are on the right side of the emotional rollercoaster. BTC will come down again. I think the hard question these days is what is the best store of value at the top? Fiat? Gold? More magic money? Or is BTC something you just hang on to and accumulate?