'Big Short' investor Michael Burry, Paul Krugman, and Mark Cuban have weighed in on the crypto crash. Here's what 7 market watchers say about the sell-off.

Critics, proponents, and other market watchers have commented on the plunge in the value of cryptocurrencies.

The industry is built on hype and speculation, and best seen as a hub of fraud, corruption, and predatory behavior.

The market downturn will help clean up the market and separate the truly valuable companies from the rest.

Tom Siebel has predicted that plunging coin prices and soaring living costs could drive workers back into traditional jobs.

Here's a roundup of what these 7 commentators have said about the crypto crash:

Jim Spellman/Getty Images

The most valuable digital currency has moved almost in tandem with the largest US tech stocks in recent months.

The investor of "The Big Short" wants to know if the asset is just another risk asset in the stock market. He attached a chart that showed the downward trajectory of the stock-market index and the plunge in the price of the digital currency.

He warned that central banks might deem it a threat to their currency and handicap its success.

The boss of the asset management company has warned that retail buyers of meme stocks and the like are heading for the "mother of all crashes."

Brendan McDermid/Reuters

In a recent New York Times column, Paul Krugman said that the crash in the price of coins was inevitable.

The moment when the scheme has run out of new suckers may be when he believes it is a Ponzi scheme.

In a column earlier this month, the veteran economist compared the housing bubble to the digital currency market.

He said that most Americans couldn't believe that house prices might be inflated and that trillions of dollars of real-estate wealth could be lost.

Krugman said that it looks like we have gone from the Big Short to the Big scam.

CNBC/Getty

Jim Chanos criticized the industry during a recent episode.

He said that a lot of the ideas behind the early adoption of the digital currency have failed.

The veteran short-seller and Kynikos associate accused the firms of ripping off their customers.

He said that he stood by his description of the space as a predatory junkyard. The vast system sprung up overnight to basically extract fees from investors.

Brian Snyder/Reuters

During a recent Fortune interview, Mark Cuban warned of the consequences of the market downturn.

He said that companies that were sustained by cheap, easy money would disappear.

The tech billionaire and "Shark Tank" investor predicted that any firms offering game-changing applications and innovations would succeed in attracting customers, despite the expected interest rate hikes.

Cuban has said that only a few of the coins will become world beaters.

"A few others will be similar to those that were built during the dot-com era, survived the bubble bursting and thrived, like Amazon, eBay, and Priceline," Cuban said. Many will not.

REUTERS/Rick Wilking

The crash in token prices could help eliminate some of the excessive leverage in the industry, according to Mike.

The CEO of the company said that big players that have borrowed money from all over the place creates a daisy-chain effect. Right now, that is burning through the system. The fires go until they run out of oxygen.

There would need time to recover from the events of the past.

He said that a lot of confidence was lost. Humpty Dumpty is going to take a long time to get back together.

As soon as the Federal Reserve stopped hiking interest rates, the price of the digital currency would explode north, according to the bull.

Leigh Vogel / Stringer / Getty

Suze Orman urged people to be careful during an interview.

The personal-finance guru said that you have to be careful with all of them.

Orman said you can put a small part of your portfolio in it. I would only put money into it if I could afford to lose it.

Improvements to the ethereum network might send the price of ether skyward according to the author and host of the "Women & Money" show.

C3.ai

A number of workers quit their jobs to work for cryptocurrencies. Tom Siebel said during a recent conference that the recent blow to their investment portfolios could force them to return to traditional roles.

The billionaire founder and CEO of C3.ai said that all the people went home and worked in their PJs. The stock is worth 10% of what it used to be.

The rent has gone up. The groceries have increased in price.

Siebel said that they were saying that they needed to go get a job. The things are going to change.

Continue to read.