Trend reversal has come regardless of the fact that countries have said that they will try to regulate cryptos as a whole. The recovery is coming regardless of any news that is coming out, it'll just delay a bit if it's negative news.

Anyways, people should start realizing that there is a minimal impact what world leaders think of crypto.

They can't shut down entire crypto networks, best they can do is regulate exchanges or attempt to ban crypto, but attempts at these are completely unsuccessful so far.