The valuation of these companies are based on absurd compounding growth but growth goes from darling to pariah the moment cash dries up, every time. Taper tantrums and Brexit era, it's sometimes the knee-jerk reaction, even. 2021, people were trading based on yields and unemployment data and bad numbers were making tech stocks rise in hopes of rate cuts. Securities is an entirely different beast than bitcoin because stocks have intrinsic value (and if you have faith in the forward earnings of a company that's intrinsic enough)