Look at the impact of regulation on the price of Bitcoin
1 min readIn the last two years, we have experienced several major attempts to regulate the cryptocurrency Bitcoin. The regulation has signed into the price several times and very noticeably. In this overview, you will find Bitcoin pricing charts that show the main milestones of regulatory efforts.
Bitcoin price charts: Regulation and its effects
The US Fed, for example, has studied the impact of regulations on various assets, including Bitcoin. In 2018 and 2019, regulation was a very frequent topic after many investors lost most of their money in the slump at the beginning of 2018.
The pair of highlights, Mark Zuckerberg’s hearing at the US Congress and the rejection of the ETF by the US SEC committee, has become a milestone in cryptocurrency history.
Permission of ETF has long been taken as a major turning point in cryptocurrency history. Repeated refusals from the regulators’ tent met with great disappointment and a sharp fall in prices.
On the chart you can see the decline recorded before Bitcoin became a hit. However, the same reaction came in 2018, when several prestigious companies tried unsuccessfully to obtain a permit.
In 2019, Mark Zuckerberg had a plan to create his own cryptocurrency, which he named Libra. Many companies have joined his project, such as the telecommunications giant Vodafone. However, the US Congress intervened and the development slowed down. The price reacted with a sharp drop of 10%.
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