Bitcoin

Bitcoin’s Crash Opens Up Regulatory Possibilities

06/17/2022
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  • Bitcoin is trading more than 65% below its peak.
  • And after all of these cultural and technological changes, it still did crash. One part of the world is moving aggressively toward cryptocurrencies and the technology behind them, while the other part of the world is calling it a scam and moving on.
  • Will bitcoin be able to prove itself as a store of value and achieve its dream in the future, or will it remain as a risk coin as it is now?

How The Bear Marketing Is Affecting Bitcoin

The cryptocurrency bear market has changed a lot in a very less time. It depleted the value of every currency possible from the stablecoins Terra, and Luna to the famous Bitcoin (BTC), Ether (ETH), and so on. It may have changed the future of bitcoin, forever…

It especially affected the present as well as the future of bitcoin. Many arguments opened up after the bitcoin crash during the crisis. Bitcoin is trading more than 65% below its peak.

Source: BTC/USDT by Tradingview 

Bitcoin, as of this writing is trading at 21,019 USD. The question arises:
Will bitcoin be able to prove itself as a store of value and achieve its dream in the future, or will it remain as a risk coin as it is now?

The main factor of concern is, that since the last crash, a lot has changed. The world of cryptocurrencies and bitcoin expanded from such a geek, nerd enthusiastic coin to the coin of the general audience.

And after all of these cultural and technological changes, it still did crash. 

ALSO READ – What’s this new emergency system that Korean exchanges agreed to rely upon to prevent Terra-like collapse?

The Future Of Bitcoin

One part of the world is moving aggressively toward cryptocurrencies and the technology behind them, while the other part of the world is calling it a scam and moving on.

A low-cost exchange-traded fund is another important vehicle for long-term retail investment. Although ETFs that use bitcoin futures have been authorized by US authorities, a spot-market bitcoin ETF has yet to be approved. The Securities and Exchange Commission has indicated it will make a judgment on converting the listed Grayscale Bitcoin Trust, which holds bitcoin, to an exchange-traded fund (ETF) by July 6.
Whenever you talk about buying or selling bitcoin in the future, you are not betting on the worth of the bitcoin, you are betting on its regulations on it.

Because these crashes definitely will give rise to various kinds of crypto regulatory laws by the government or the SEC.

Therefore, for anyone who wants to bet on the future of bitcoin, analyze and imagine what are the aspects of the bitcoin that will be legal after a couple of years.

Source: https://www.thecoinrepublic.com/2022/06/17/bitcoins-crash-opens-up-regulatory-possibilities/