Could it be that onerous regulation and threats of regulation actually spur interest in cryptocurrency?
We see that the google searches for Bitcoin in Turkey are going up as regulation threats arise.
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Well people are always interested in things that are on the news and also things that might be profitable. They might see it as buying some now might be able to get them quite a bit if they resell it to others.
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Could be a combination of the institutional investment and flipping some BTC before regulations are set in stone. Just a guess on my part.
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