The current economic situation is proof that crypto does not live up to its promises

Crypto was sold to the masses on the promise that when global economies fail, digital currency will be a hedge against those failing currencies. Well here we are. US inflation is the worst it’s been in decades, global markets are crashing, global currencies are crashing….aaaaaaaand crypto is crashing right along with it. Sorry guys. I’m a long term investor but this is absolute proof that crypto is not a hedge against anything. It’s just a fad