I think that in addition to the above factors, there is another important factor that is the influence of national supervision. During the 10 years of Bitcoin's development, many frauds have been reported in the news, and the government has arrested many fraudsters. Although the block network has very strict security measures, intrusions are still possible. Once intruded, the entire network may be stolen millions of dollars. The anonymity of transactions may be the reason why criminals cannot be traced. The government wants to protect the wealth of the country. Countries are now paying more attention to and understanding the importance of regulating cryptocurrencies. If the law tries to restrict the widespread use of Bitcoin, many traders may not accept Bitcoin, even if they like it.