Bitcoin External Risk

[Older pic current price is $17,100]

Looking at bitcoins price, the last 3 downfalls have come from third party collapses. In-between the collapses BTC had been trading steady.

This is frustrating, not only are people being lured into altcoins with false promises + losing money, but the contagion is directly impacting BTC holders who don't fall for this bs and practice self custody.

Of course the BTC chain itself is still operating smoothly. But this is overall bad for the progression of BTC..

I used to be a proponent of minimal regulation but now I see [in general] people are too stupid to self manage