Several years ago we purchased fancy new electric bikes for the both of us for 1 BTC. Today, we can buy a new electric car for the same amount. So, not too sure about that.
What is also happening is that other fiat currencies, most of which are buttressed by the U.S. dollar, are also losing comparative value to cryptocurrencies so that the cryptocurrencies appear to have increased in value.
There is worldwide revaluation of fiat currencies going on.