There are lots of similarity from previous crashes. The bitcoin/crypto starts getting positive price related media attention and it rises like it's never going to stop. New people follow the hype and invest in the currency. After a while the bubble grows and it pops.

Now there is negative press and price fall by a margin of 60-70%. Then people start calling the end. Media attention goes away. Prices get corrected and stabilizes.

Definitely over time market size has increased but still it in early stage and very volatile. The newbie money follow the hype and give no shit about the technology. So, when people around them says it's dead they believe them.