Bitcoin AND the Libra Hearings! This will indicate the future.

While some are saying that these declines are corrections, others say its a bear market.. but, I say it has a lot to do with the recent threats of cryptocurrency regulations and the Facebook Libra hearings. Keep an eye out, because Libra was put on pause until Facebook can be grilled about Libra. Libra isn't the issue, but regulations are. Just like stock markets decline on Fed Minutes, earnings, jobs reports... the crypto market is also awaiting these hearings.

I suggest to get out of the markets until there is a clear decision made on Libra and proposed regulations. If Libra gets the green light, get in, because the entire crypto market will definitely rise back up. If they decide to ban Libra, and regulate.. for SURE we'll see new lows. If you're out of the market, you'll be safe. Let's hope the Financial Senate Committee. Unfortunately, the first day of the hearings weren't great as headlines read "Senators aren’t sold on Facebook’s Libra project".

Comment:

This isn't TA, this is just using logic that all markets go by. If something government does has an impact on the market, investors will react accordingly. The chart is getting an idea of what WILL happen if we see regulations established or not.