What if this is all just Fed and not "great" innovations?

We have seen several huge parabolic charts develop over the past 1-2 years.
Tesla and bitcoin are probably the most "emotional" assets as gains have been huge and a lot of money is involved.
We saw Tesla top out with some huge downside volatility resulting in many broken dreams.
People have argued that bitcoin's "lost" volatility over past months is due to bitcoin having "grown up", but here we are once again seeing it deliver huge volatility.