Why volatility doesn't deem crypto currencies haraam

how do you respond to the argument that the markets are too volatile and are akin to gambling and therefore is haraam. jzk in advance

Wa alaykum salaam,

Whether excessive or minor, volatility in and of itself is not Haram. Volatility is generally a result of market dynamics. Yes, manipulating the markets is a separate matter which is problematic from a Shariah perspective.

The change in price is not the key element got Shariah compliance, rather it is the mode and method of investment. Gambling as a transaction is problematic and hence not Shariah compliant. If the structure of an investment is Shariah compliant but the price of the investment is volatile, that will not invalidate the Shariah compliant structure.

Allah knows best