You could add the government acknowledgement to the reason why Bitcoin won't go back to zero but it's not one of the major reason because Bitcoin was doing fine before their adoption when they see theres nothing they can do to stop the thriving of Bitcoin.
I don't see the volatility of Bitcoin decreasing due to the government and institutions act of having the power to control things (this is why I never like the idea of Bitcoiner going for BTC ETF) which I believe they will want to practice using Bitcoin in the future since they are late to join the party.
Of course that's not a necessary policy requirement for Bitcoin to not return to zero, but in many cases, we can see that when governments start to intervene, it's difficult for a product to reach zero.I don't see the volatility of Bitcoin decreasing due to the government and institutions act of having the power to control things (this is why I never like the idea of Bitcoiner going for BTC ETF) which I believe they will want to practice using Bitcoin in the future since they are late to join the party.
I'm also not saying Bitcoin lost volatility because of government involvement, but I do see Bitcoin's growth from its inception until now, with a slight decrease in volatility. This is my view based on my personal analysis, not based on the methods or analysis of others. Bitcoin's growth to date is independent of the government, but restrictive regulatory policies can have an impact on adopters, especially in countries that completely ban Bitcoin.
I agree Bitcoin grew from it inceptin after it got mainstream attention through government and institutional adoption, but that doesn't mean its volatility will decrease, and i will say we should be prepared more than before for sudden volatility in the market. Although the market volatility may not be as constant as before, but when it happens, it will be a huge one.
