(Nevermind, ignore me, consider this a crank comment.) What risk do you think the market has been handsomely compensating Bitcoin investors for over the last y

(Nevermind, ignore me, consider this a crank comment.) What risk do you think the market has been handsomely compensating Bitcoin investors for over the last year? Genuine question, I don't know the answer, but if the market were pricing in the risk of Bitcoin suddenly going to zero through regulatory action, it might make sense that the price goes up a lot as old investors compensate new investors to exit while the music slows. I feel like people smarter about finance than me who were paying close attention to Bitcoin might gather clues about this hypothesis from watching the order book consistently, so yeah, genuinely asking.