Ya know, this just made me think of the ripple effects of crypto.
For instance, the housing market in Florida receives alot of demand from Chinese money as people there just want to get their money into the US to protect it, they don't care if its a good real estate deal or not.
Crypto (depending on the coin I guess) could give them a safe haven effect as well (particularly hard wallets). Thus money going there rather than other places like US real estate.
Yes good points. The money flooding into the crypto space over the past six months almost looked like that to some extent. Everything was getting bought with little regard to the price or it's fundamentals.