One way or another today, it is safe to say that cryptocurrency is becoming very far from the idea that was declared at the very beginning of its creation, when it came to independence from regulators and various kinds of control. At the moment, any news or statements by officials of various governments very sharply affect the state of the cryptocurrency market. Just the other day, the G7 report was officially released that cryptocurrency could bring certain problems due to its instability, and the market immediately responded with a sharp drop. And if we take into account Zuckenberg's next statement that the Libra project will not be implemented until the US government gives the Green Light, it also indicates that cryptocurrency is still dependent on external factors.
The government will never let cryptocurrency to be completely independent and hence, it will always be dependent on government and various other external factors. The trend is down and it is going down more I would say. But people can bring this up if we use it and in the coming festive season I am hoping we will see increased transaction and valuation.
General people listens and believes in any news or anything they hear. So the news heavily impacts on the market. Moreover, people loved the volatility more I would say, as Bitcoin and the crypto market is not jumping very frequently, I also felt people might have started losing interest. But people can also possibly waiting for the right time to jump in to grab the opportunity.
The most important thing is that we can just Hope.