10% swings are just normal in crypto. Just because it's shockign to some traditional banking types doesn't mean it's a huge issue.
Bitcoin Losses Near $200 Billion As JPMorgan Warns It’s The ‘Least Reliable’ Dollar Hedge
The world’s largest cryptocurrency is down nearly 10% over the past 24 hours.www.forbes.com
Won't help mining because no one sane mined bitcoin with GPUs in 2020 or 2021.
Also nation states making crypto illegal is simply due to remaining on control. It's bad for states if they can't control their people by being able to block access to money.
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