Hey, I have some moderate experience over this crypto world. Why the market is extensively volatile. Alike traditional market does crypto too impacted of many major changes.
I think it is volatile because most cryptocurrencies are not backed by physical things like gold, silver, or other precious things.
From what i know, we need gold reserve to print fiat money, it means money backed by gold.
Some stable crypto like USDT and TUSD are not volatile, because it backed by real money.