I will push back on the basic hypothesis here- the fed has been tightening monetary policy aggressively for months. The excess money for scams came from this monetary policy- with the tightening those with out solid foundations get rekt- and even some with good models will be damaged because the monetary forces are not free market but imposed, creating stressors that only allow certain models to succeed- mostly those that are endorsed. One of the big lessons of the last recession was that even those who did nothing wrong were damaged by it.

Further, this will be the first recession in the larger economy crypto has ever experienced- and given discussions of the dollar's "changing status in the world economy" I think this one could be a wild ride.