I didn't say these scams, hacks, etc. had no effects. I'm saying that these things are not the ONLY reason for dumps.
Even your zoom in this picture showing the dumps is isolated since the dumps started from November 2021 from $69k not 6 months later in May 2022 from $40k.
Some other events during the same period are:
- Russian invasion of Ukraine
- Increased inflation in US and Europe and pretty much everywhere else
- Euro/USD exchange rate dumping hard for the first time in years
- Increased interest rates
- Recession
- Food scarcity crisis when the export of grains halted globally for a while
- Energy crisis
- Other markets like stock crumbling down (eg. in first week of June which is Celsius on your chart, S&P500 dumped 11%)
- ...
a lot more that has been affecting the global economy in a negative way hence affecting bitcoin price also.