Bitcoin's price crashes can be attributed to various factors. Here are some possible reasons:

- *Regulatory actions*: Governments and financial institutions imposing strict regulations or bans on cryptocurrency trading, like China did in 2018, can negatively impact Bitcoin's price.

- *Security concerns*: Hacks or thefts from cryptocurrency exchanges can erode investor confidence and lead to price drops.

- *Market volatility*: Bitcoin's price can fluctuate rapidly due to changes in supply and demand, making it vulnerable to market manipulation.

- *Global economic trends*: Economic downturns or shifts in investor sentiment can also affect Bitcoin's price.

Some notable incidents that affected Bitcoin's price include¹:

- *2018 ban*: China imposed a complete ban on Bitcoin trading, causing a significant price drop.

- *2022 collapses*: The collapse of TerraUSD and Celsius Network led to a decline in Bitcoin's price.

- *Environmental concerns*: Bitcoin mining's high energy consumption and environmental impact have sparked controversy and regulatory scrutiny.$BTC