One of the best quality of bitcoin is being decentralized. Bitcoin can't be regulated, if it is regulated by the government it will not be decentralized anymore. I think bitcoin is okay right now and doesn't need to be fixed. Fluctuation of price makes Bitcoin and other crypto more exciting.
If the governments want to regulate bitcoin that is their choice, what they have no control over is the network and if the people that are using bitcoin are going to follow those regulations, that is what they are not understanding they think that they can sign just a few laws and people are going to follow but this is not going to happen with bitcoin because it was a specifically designed to avoid regulations.