It amazes me that anyone would buy something with no fundamental value other than "the greater fool theory". Only the authorized participant/market makers are assured of making billions of profits off the fools who buy and trade Bitcoin. Or, our King with silly coins equally worthless
same applies to other asset classes, commodities and souvenirs (fine Art, Aaron judges historical homerun ball etc )
silver, despite having a use case, was in a multi yr bear market and only recently broke ATH (but not adjusted for inflation )...gold holders also had to suffer a long time as well
at least with BTC you never had to wait that long ...at least not yet
crypto will also go through a multi year bear as it has become a mainstream commodity/asset class