Recently, anxiety over the domestic crackdown on virtual currencies is spreading again.

Such a lack of perspective.

Learning from history:
Let's talk about the impact of the biggest domestic regulatory action.

94, i.e., 2017-09-04 Regulatory Shock

1/ 2017-09-04: Announcement by seven departments—ICO = illegal public financing

2/ Immediate halt to all ICOs

3/ Projects that already conducted ICOs must arrange for refunds/returns

4/ Domestic trading platforms are prohibited from fiat currency exchange, order matching, pricing/information intermediation—in essence, shut down

5/ Banks and payment institutions are prohibited from providing account openings, clearing, and other channel support

Price chain

2017-09-02 High: $4,975.04 (pre-94 all-time high) →

2017-09-04 Low: $4,108.40 (same day) →

2017-09-15 Low: $2,946.62 (this round's bottom)

Afterwards, people found out that aside from needing a VPN to trade coins, there seemed to be no other major impact, and the bull market began.

Bitcoin surged to a new all-time high of $19,800 at the end of 2017.