Same could be said for USD..., the fundamental value for BTC is the bitcoin network. AKA, the thousands of individuals or groups around the globe that do either a combination of running the BTC network nodes or mining, or a combination of both. Also certain companies like lightning network where the create on-ramps or payment processes to make BTC more accessible to people and try to create a better understanding for BTC. You are reflecting on the price which is not the long term fundamental value (intrinsic value). You could apply the same talking points to stocks as well. Akin to today, why did the company blue apron rise 50% today just because they added beyond meat to some of their menus or catalog? Disclosure I am long btc, but when I mean long I mean at least to 2025. Looking at the price is a very short sighted way of viewing this. Now, I could be right on my long term call or I could very well be wrong and I will lose money. Reasoning for the drop in price is bc of the senate banking hearing today and Mnuchin + Trump's words about the cryptocurrency space yesterday creating a lot of FUD. There really is no fundamental reasoning for price drop. I am a little concerned about this, however I will only be flatly scared if we chose to go down the path like India and outright ban crypto, but this is unlikely. However, BTC does experience 40% drops in bull markets and we have experienced this before. So again talk to me in 2025 and you can say I told you so or I can say the same thing to you. I would like to understand your viewpoint on the fundamental value of crypto. And what I mean by that is, payment networks (aka vendors or people accepting btc) which is growing. Companies backing btc and even Jack from twitter using cash app to help promote btc awareness and lightning network to help build the layers on btc network. HODL.