$BTC The downfall of cryptocurrencies, especially during major market crashes, can be attributed to several key factors:

1. Volatility and Speculation: Crypto markets are highly volatile, driven largely by speculation rather than fundamental value. This makes prices unstable and prone to sudden crashes.

2. Lack of Regulation: The absence of clear regulations has led to scams, fraud, and market manipulation, eroding investor confidence.

3. Security Issues: Hacking incidents, exchange breaches, and loss of private keys have resulted in significant financial losses, making cryptocurrencies appear unsafe.