Quote from: Smartvirus on August 17, 2023, 11:54:05 PM

Quote from: Prestongold on August 17, 2023, 09:00:00 PM

Is regulations among the key factors that affects the price of Bitcoin

Hell no!
Where did you come up with that idea.

Well, like the economist will tell you, price is being affected by demand and supply. When supply is more than demand, price drops and when the demand is higher than supply, you can expect price yo pump. Of recent, Tesla has been known to liquidate some of there bitcoin hodlings and that been the reason behind some of the dump of recent and sadly, those who would take the bate will wish they didn't for gaming with a wealthy spaceX guy.

The most regulations could do is about bitcoin's acceptance by most but somehow, bitcoin continues to gain popularity with Citizens of the world despite the many negativity which is circulated about the innovation. So yeah, its not regulation and its more of a demand and supply thing.

In Bitcoin's historical event, there are incidents where regulation affects the price of Bitcoin. Aside from that, the law of supply and demand is affected by adoption and the progress of Bitcoin adoption is affected by government regulation. The acceptance of Bitcoin by a government affects the market sentiment thus creating the market to bullish trend if there is enough positive sentiment created.

We can agree to disagree but we cannot deny the fact that in the history of Bitcoin regulatory news affects its market movement especially when the one making the announcement is the developed country/ leading country.