Yea sort of a Ponzi scheme in that regard - the later you get in, the more likely you are to get stuck holding the bill. Because people that got in early will pay the least and therefore (should) sell the earliest, seeing the largest gains. People who get in later pay more and see smaller gains, so will likely hold longer to squeeze whatever small profit they can. Those who get in last (at the peak of the price curve) stand to lose a lot of money.