Define "backing" please. The USD has no backing other than the trust and faith of the US government and its people, both of which are a terrible backing for a currency. BTC however has the backing of a massive blockchain network that makes the currency unfuckwithable. There have been numerous dips in BTC yet it always recovers and climbs back up. Just a minute ago it crashed from 19.5k to 16k and now its climbing again. It will stabilize somewhere in this neighborhood and resume its bullrun. A single dip isn't going to crash the value; numerous dips have already happened.