Yes and it has similar causes. Very low (in fact negative) interest rates set by the FED and ECB on top of „quantitative easing“ policies. After the subprime c

Yes and it has similar causes. Very low (in fact negative) interest rates set by the FED and ECB on top of „quantitative easing“ policies. After the subprime crisis and especially now due to the Corona crisis we have unprecedented monetary expansions. This is why people cannot simply put part of their earnings into a simple savings account anymore — traditionally a low-risk way to accrue interests and leaving the risky investment schemes to more knowledgeable people. In these times everybody thinks to be a good investor ... People calling for banning Bitcoin should rather consider where this trend is ultimately coming from and start questioning our current monetary system instead. Personally, I am quite positive towards certain cryptos but I think these crazy pumps and dumps we see currently are not only fueled by technological craze but especially by bad monetary policies implemented by irresponsible governments addicted to deficit spending on the one hand and central banks supporting the abuse. In the long run Bitcoin and DeFi blockchains might actually help bringing back reason and humility into the financial sector but currently they are driven by a huge surplus of money created by the very people in power now demonizing cryptos.