tell her 90% of all btc holders are still green then duck crypto is the biggest scam in human HISTORY
I personally blame ...social media...on the downfall of everything in modern era, I blame social media on the crypto mess, the Gamestop story, social movements, BLM, the anger, the depression, the crime waves, the mental illness, the runaway irrational stock market boom during the pandemic, inflation, the weirdness and dumbing down of society, greed, hype, intolerances towards religions, race, political views, etc,...and everything else that's negative and strange under the sun. China and Russia are correct in their life and world philosophies....it's best to restrict a society, don't give them too much freedom and liberalism. They are like strict parents, but have good intentions for the greater goal and picture.
All speculative activity is on ice and prices are dumping: tech stocks, collector baseball cards, crypto, day trading, IPOs, etc. If you don't look at Bitcoin in this context you are missing the boat. Crypto had large leverage wound up in it by people overseas. As speculative assets all got crushed the amount of leverage was revealed and it unwound. I plot and correlate speculative asset activity for my trading. It comes in waves and different asset classes correlate strongly. If you somehow think Bitcoin at $20k right now means the world will never want bitcoin again then you are very likely to get yourself humbled. There is no sign the correlation between bitcoin and other speculative assets is broken. The cycle is much closer to it's bottom now than it was just two months ago (in terms of price, not necessarily time).
That's true of anything that is trading below where it was 2 months ago. The question you should answer is where is the bottom, and whether there is a good reason for it to recover enough to make it a worthwhile trade/investment.
Only a fool thinks they can know. You average in over long periods of time near the bottom of cycles.