I meant, it practically "collapsed" for those crypto-traders of Korea. If you use bitcoin for its ability to exchange money with anyone in the world, then you'

I meant, it practically "collapsed" for those crypto-traders of Korea. If you use bitcoin for its ability to exchange money with anyone in the world, then you're right, it's doing fine. On the other hand, if you borrowed fiat money to buy bitcoin and other assorted currencies you never heard about, believing that the price will go up, and if it became 1/3 of the price you bought, then for all practical purposes, it has collapsed, in the same sense a housing market would "collapse" if price went down by 2/3. Unfortunately, the latter describes a lot of Koreans who bought cryptocurrencies last year. The number could've been much higher without government intervention.