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This type of sentiment can trump any and all other sentiment types. That’s because what regulators say is the law.
If sentiment changes firmly in the eyes of a regulatory entity, then this sentiment is certain to extend into cryptocurrency price action.
In mid-2019, after Facebook’s Libra project was announced, negative regulatory sentiment caused Bitcoin price to collapse, and altcoins to reach bear market lows.
When regulators claim an asset is deemed not a security, and therefore safer as an investment, these assets typically perform even more strongly.
