This is just a phase of Bitcoins, and its pretty normal to be honest. OP are you serious that you arent familiar with the trend that is going on? Its basically just a bear run, which often comes. I mean it wont be always that Bitcoins will climb up the prices. Rather than worrying about the price, its the golden opportunity to grab the Bitcoins in this low price. Dont panic and buy as many coins as you can in this bear market.
I'm not new in crypto
Just interested in other peoples opinions and have a fear that the government may strangle the entire crypto industry
I guess you already know by now the reason of this recent drop. For me, the major contributor was this FTX failure, and binance bailing out as they couldn't handle the mess FTX is in right now. There will always a reason why we will always have this up and down movement. And the government regulations towards crypto will for sure be a part of it. But I don't think the government can have total control on crypto market, because they can't.