Can a centralized entity regulation affect the price of a decentralized digital asset?When Satoshi Nakamoto introduced Bitcoin into the world, we were also introduced into the realm of decentralization where using Bitcoin as an example, two willing peers can transact directly between each other on monetary terms without the need for a third party. It means that they can use a currency as a medium of exchange that is not controlled by any government or central bank. With the underlying blockchain technology, the system operation of Bitcoin becomes self-governing without jeopardizing societal order.This concept and principle of Bitcoin and the eventual flourishing of other cryptocurrencies pleasantly caught the world by surprise and their popularity surged to become an asset class of its own. But despite the great potential that the blockchain and distributed ledger technologies can bring to businesses and economies, the high volatility and speculative trading of Bitcoin and cryptocurrencies were enough for consumers and investors to become cautious about being protected and, therefore, would be needing some kind of regulation coming from the government of the locale. Since Bitcoin and altcoins (cryptocurrencies other than Bitcoin) have not been that great at self-regulation, the need for government intervention only became more imminent.Interpret that local regulations have no impact, but the domestic impact will earn it points on preventing fraud and consumer protection.The Effect of Government InterventionUpon announcement of national or state government regulations on cryptocurrencies, it was found out that it affected Bitcoin price but only in a short term. However, the discouraging effect can be felt in local trading activities in the long term. But Bitcoin\u2019s global integrative trading network has proven that it can return to normal and stabilize the price. It would be unfair, however, to interpret that local regulations have no meaning, but the domestic\u2026<\/p>","protected":false},"excerpt":{"rendered":"
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