$BTC Here is the info from CoinMarketCap or MarketBeat regarding the criticisms and drawbacks of Bitcoin (BTC) that you need to know:

- *High Energy Consumption*: Bitcoin is criticized for its significant energy consumption in the mining process. Each Bitcoin transaction requires about 1,173 kilowatt-hours (kWh) of electricity, which can power the average American home for six weeks. However, Bitcoin supporters argue that this energy consumption can be tracked and accounted for, unlike other financial sectors ¹.

- *Price Volatility*: The price of Bitcoin is highly volatile, posing risks for investors. Currently, the price of Bitcoin is around $106,888.45 with a 1.47% increase in the last 24 hours.

- *Dependence on Technology*: Bitcoin relies on blockchain technology and network security. If this technology fails or is vulnerable to attacks, the value of Bitcoin may decline.

- *Government Regulation*: Governments and financial institutions can influence the value of Bitcoin through regulations they impose. Some countries have banned or restricted the use of Bitcoin.

- *Scalability*: Bitcoin has limitations on the number of transactions that can be processed at one time, which can lead to delays and higher transaction costs.

However, Bitcoin also has some advantages, such as:

- *Decentralization*: Bitcoin is not controlled by any government or financial institution, providing freedom for users.

- *Security*: Bitcoin transactions are recorded on a secure and transparent blockchain.

- *Investment Potential*: Bitcoin can be a profitable investment for those willing to take risks.