It was already determined for tax purposes that crypto currency is a security meaning it is subject to capital gains just like a house, stock, or bond.
The banksters inflate things so that they can sell at the top and buy at the bottom. With their access to unlimited fiat, they can bubble anything. Of course, they really only start the process then the feeding frenzy takes over.....the stupid money, i.e. general public is the last in..just in time to ride it down. By this time, the banksters are on the sideline ready to jump in and buy things on the cheap.