I was merely stating that it's what contributed to the price dump.
there are people who are saying that one of the reasons that caused us to have this huge fall in the price is the announcement made by the SEC and I think they are right... people enter panic as soon as they read any bad news and this year that there are many governments taking tough measures we will have to get used to this price drop because every time the price goes up and some government take some hard measures will generate panic and price drop.
Bitcoin Drops Below $9K, Top Altcoins Down 16% On Global Regulatory NewsThe market downturn is likely in part caused by the March 7 statement from the US Securities and Exchange Commission (SEC) that all cryptocurrency exchanges trading securities are required to register with the commission.
Pressure on the cryptocurrency market was also increased by the Punishment Notices for 7 cryptocurrency exchanges issued by the Japanese Financial Services Agency (FSA) on March 8.
As Cointelegraph reported on March 8, multiple reports concluded that the current cryptocurrency downturn since late December is a result of a $400 mln sell-off between December and February by the attorney and bankruptcy trustee of Mt.Gox, formerly the largest Bitcoin exchange in the world, before it went bankrupt in 2014, following a major hack.