volatility in the birth of brand new industry. bad players need to be sorted out, bad business models will fail, etc. Other businesses in the industry will gain reputations for stability and service. Think any new players in any industry-now add new industry.
I see it as a hedge to currency fluctuation and world events. It rose 22% not because the DOW tanked but due to the world political stage. . It is a risky investment, but I support it in part because I find it a moral solution to govt fiat of currency and govt intrusion into every financial transaction its citizens make in the name of safety-but more importantly in the name of slavery. I own myself.

Are these just growing pains or is it unraveling?

I have made 22% over the last week. We buy through coinbase.