What’s really behind Bitcoin’s collapse?

It can be difficult to decipher whether price drives news, or news drives price. It can often be logical to associate price action to events, even if the two are not directly related. Could Bitcoin’s recent downward fall be partly due to heightened regulation, coinciding with a launch delay for the Bakkt exchange?
Current Bitcoin Price
Bitcoin is currently at a price of about $4400 on Blockmodo at the time of this writing. It is unclear whether the bottom is in for Bitcoin price, or w