Crypto is an asset that has nothing behind it, it has no value other than the hope that someone else will buy it from you. And for the entire life of crypto, there’s been a lot of easy money around that helped prop up its value, but as the easy money is leaving the system, as interest rates go up and countries are staring down the barrel of recessions, that doesn’t bode well for there being an unlimited supply of new buyers for these crypto-assets.