Crypto "assets" have no fundamental value, so they are actually worse than tulips, which did - and still do - have a fundamental value even if a low one. Crypto "assets" having a non-zero price (despite no fundamental value) is only a result of marketing hype, gullibility of people, distortions of mass psychology based on the "greater fool" assumption, and the temporary demand created by the storage needs for criminal money (which will disappear when the crooks notice how fast their money can disappear when stored in crypto). It's easy to believe that crypto has little correlation with any actual assets, simply because it's not an asset. And as it's not an asset, it cannot serve as a source of diversification for assets.