If one was to speculate on the reasons behind the rollercoaster almost pump&dump scenario we have seen with BTC some recent articles could help highlight the reasons.
- Firstly India has a ban on cryptos, which is now being called a scam in terms of the overreach of regulations.
Result market confusion in one of the most populated countries on the planet.
https://www.fxstreet.com/cryptocurrencies/news/indias-proposed-crypto-ban-is-corrupt-says-tim-draper-201907171054
- Next we have Trump & his tweets that can be read in several ways in regards to the Fed & BTC.
A ban by Trump sounds implausible, but is possible, at least for the USA, but given that is only ~4% of the global population it may or may not effect global prices.
https://cryptodaily.co.uk/2019/07/food-for-thought-could-trump-issue-bitcoin-ban-in-the-future
- And lastly we have France who are looking at self controls for the Crypto world. As long as companies agree to KYC & other tax rules then France seems to be OK with cryptos. What happens when I buy a coffee with BTC or AlT's is not really clear at the moment. Will the Barista or merchant have to declare the income, pay tax on it etc etc.
https://www.coindesk.com/frances-financial-watchdog-proposes-voluntary-regulatory-framework-for-crypto-firms
https://www.chepicap.com/en/news/11262/france-approval-first-batch-of-cryptocurrency-related-companies.html
No wonder the Crypto Express is a rollercoaster, it seems the regulators can't decide if they want to be Martha or Arther.
Time will tell
