Starting from the Barter system, the modern economy evolved through many challenges, like a crisis, recession, direct political issues impacting economic systems, wars etc. Before as the reference for exchanges metals were used and they were tangible and limited. But 20th century saw the raised in the hegemony of the USA, and countries agreed to accept the USD as a global currency. While with the Fiat system there were many flaws like problems in exchanges, cross boarders transfers, its printing was based on the need of the economy, no caps in amount, devaluing with time etc.

Coming to the 21st century, there developed a new system based on blockchain which believe to cut down the flaws. These gave birth to BTC, which precipitated the other coins with it. This is how crypto space evolved from the existing system to mitigate the shortages and issues of the system.

Through one was developed to replace another, the rich man's club cleverly imbued centralised exchange to make things ease. And lately, they developed stable coins pegging to the dollar. 

And the recent conflict between Ukraine and Russia raised inflation all over the globe. Inflation in a layman's words is just a devaluing of the fiat currency. This is somehow a rise in the price of commodities goods or services with time. 

In another dimension, people believed that the crypto space will gain success with mass adoption.  Since there are limits in the total supply of more over coins,  its value gets raised with the rise in demand of the coins for it, it must have demand. One way of creating demand is through utility, developing the use case of coins. For it, people started to announce and publicise the advantages of using cryptos over fiat, and if we see around, most of the big companies directly or indirectly are involved in the adoption. Elon Musk is one of the catalysts of the crypto space. With the publicity of its growth rate now stores, companies and even countries started to adopt these

These three scenarios, 

• Pegged with dollar
• Inflation
• Mass adoption

Created another scene in the colony. When the prices of commodities and goods and services were labelled in cryptos, and the selling price depends upon the market price, which is directly associated with the value of the dollar made cryptos act against its characteristics. To make the economic system free from devaluation, to act as a hedge against inflation was one of them, but now the price is moving along with the price of the dollar.

Not only this, the role of exchanges acting under the rules and regulation of governments and the crypto space oxygen is the internet whose supply chained is governed by government, and the institutions, shops, stores, departments, etc are directly under the rules and regulation of government there is raising a question about the attributes of cryptos.

In my opinion, BTC seeks the open market, a market governed by market forces which can only be achieved in an ideal open market economy. Which seems impossible in the current time frame. The crypto space is doing well with the dollar-dominant economy and some economy blocs are discussing the dedollarisation, we can't predict if such a system successfully emerged, what happens with the crypt?

People only believe that within some heart ahead it goes to make an ATH,  while it may or not time will be giving a message to us. And on the present stage of BTC, to be honest, it can't.

Thank you...