"I think it best to not attempt to label crypto markets as rational ones."

You'll certainly get no argument from me there. I'm pretty sure I make this clear most of the time:

"There's no way to reliably predict short-term price movement. Bitcoin could continue to go straight up, in either real or nominal terms."

Obviously, if you took my anti-Segwit advice 3 months ago, dumped BTC and bought Bitcoin Cash (or something?), you're probably not looking all that great.

Investing in this market currently is to be done not on fundamentals or logic, but on hype.

"when the tech bubble exploded "

I don't expect crypto to go down the same way. I wouldn't be surprised to see single coins go down, even BTC, with rapid market recoveries after.

With the Tech Stocks, that money could easily go to a bank stock or something. Does crypto money really want to go back to fiat? I think a lot of it is going to want to stay in crypto, for tax or ideological reasons.

We'll see!

Thanks for the rapid (and best so far) comment.