Yup, as volatility increases and prices fall more and more exchanges are going to halt transactions or just go offline because it's not worth it for them. It's going to get harder and harder to get dollars for bitcoins. And the transaction backlog is going to make people lose their minds. People will decide they want to get out and they'll try to sell, but that's just the start of a process Meanwhile, processing fees are going up and up and up because people who want to lock in their returns are going to pay a premium to get out as early as they can. And, of course, because the cash-dollar value of those processing fees will be in freefall and miners are going to "prefer to hold more of their wealth in dollars" as well. That's going to devolve into a really ugly feedback loop. People are going to be increasingly incentivized to get out early to avoid an even worse rush with higher fees later, and they are going to pay high fees for the same reason. It's going to be a mess.