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Cryptos don't have any fundamentals and they are not backed by any members, still prices move up and down because of supply and demand chain created by the sentiments of traders just like stocks.
Yeah, so basically if there's a bunch of people that want to buy crypto at a certain time, the price is going to go up, and if there's a bunch of people selling off their crypto at a certain time, then the price is going to go down. It's kind of the gist of how it would work.