Appreciate the reply, but that wasn't my point.
Psychologically, someone can say "I hold some shitcoin to sell it after a shitcoin pump, and buy more bitcoin."
For me, it's as unethical than saying "I hold some fiat to sell it after a bitcoin dump, and buy more bitcoin."
So I caution against "drawing lines", because it's rarely that black and white.
Everyone is different and has his own motives, and as Bitstein explains eloquently, everyone is a speculator.