Do you think governments contributed to crypto price decline?

[Henrywrites]

When I heard about cryptocurrencies, I was happy because most of the top guys said that they are going to get the backing of top governments in making coins generally acceptable. However, the reverse has been the case and do you think it contributed to people losing trust in crypto coins?

 

[Ravenfreak]

I feel like the recent bankruptcy of FTX was the major cause of the decline of crypto prices, not really the governments. FTX going bankrupt completely messed up the entire blockchain and many people lost money during this in thus, ruined their trust of cryptocurrency.

 

[deucher]

In my opinion, they still do not have much influence on this, most likely it is the internal market and internal investors who manipulate ordinary people in order to make money, after which prices rise in the opposite direction and many people lose confidence because of this, because they can invest $100 today and receive tomorrow only 50 in one night losing 50 percent of his capital.