It's called crypto tulip mania. This is a classic bubble. The underlying blockchain tech is awesome, but what is going on now is a crypto ponzi scheme. There still has to be something backing up an asset or it is just air. Even the dollar is back by the United States ability to pay it's debts and we have nukes. Something will set off the crash like maybe world bankers talk about some restrictions being they can't control crypto money supply. Who knows, but take if from someone who has played bubbles in the stock market. Unless you bank your profits, it is just paper profits (in this case ledger profits). And everyone can't exit a burning theater at the same time.