What will happen if Bitcoin crashes?

As a cryptocurrency and finance professional, I often receive inquiries about potential risks, particularly surrounding Bitcoin's volatility. One question that frequently arises is, "What will happen if Bitcoin crashes?" It's a legitimate concern given the high profile and widespread adoption of this digital asset. Could you please elaborate on the potential impacts of a Bitcoin crash? Would it solely affect Bitcoin holders, or could it have broader consequences for the cryptocurrency market and even traditional finance? Would such an event trigger regulatory responses or changes in investor sentiment? Additionally, how might it affect the underlying blockchain technology and its various applications? Understanding these ripple effects would greatly assist investors in making informed decisions and managing risk. Your insight into this matter would be greatly appreciated, as it would provide valuable perspective on the potential outcomes of such a scenario. Thank you for considering my query.