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Nowadays, when it comes to Bitcoin, friends can talk about it to some extent, but when it comes to Bitcoin hearings, many friends are very unfamiliar. Bitcoin hearings originated in the United Kingdom and the United States. Last year, a Facebook hearing led to a sharp decline in Bitcoin, which also made more and more people pay attention to the Bitcoin hearings. So, from the advent of Bitcoin in 2009 to now, Bitcoin How many times have Bitcoin hearings been held, and what impact have they had on the Bitcoin market?

## What is a Bitcoin Hearing?

Bitcoin is now popular all over the world, and more and more people are participating in it. The existence of this market means that there will also be certain threats and risks. Brad Sherman
Sherman said at the meeting that digital currency is a scam. Terrorists and criminals use it to move funds around the world, tax evaders use it to evade taxes, and startups use it to raise funds and commit fraud. The Bitcoin community around the world is now organized to discuss the benefits and risks that Bitcoin brings to us, and together we can provide good development suggestions and plans for the Bitcoin community. Every few years, relevant legal experts and risk experts will be organized around the world to discuss and discuss how to develop Bitcoin in a sound and orderly manner to benefit all mankind.

## What was said at the Bitcoin hearing?

The Bitcoin hearing mainly talked about the sharp decline of Bitcoin after a period of sharp rise, which made many investors dare to speculate on the virtual currency bubble. Therefore, the United States held a government hearing on the content of cryptocurrency, and the main content was also about Bitcoin’s trend and future direction. Next, the editor will review the past history with you:

Bitcoin fell from $6,820 to $6,070 in five days on July 12, 2018. On July 18, the Congressional Financial Services Committee held a meeting on "Cryptocurrency as a New Currency."
a new form of
money) rebounded to $7,400 after the hearing. More importantly, because this hearing did not take an overly negative attitude, Bitcoin remained competitive in the next few days and rose to $7,400 on July 24. Highs of $8,500;

Bitcoin plummeted from $12,000 to $6,000 in the ten days before February 6, 2018, before the chairs of the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC) testified at a Senate Banking Committee hearing, the results of which were also Surprisingly positive, the result was that Bitcoin recovered to levels above $11,700 by February 20, 2018;

Bitcoin was discussed for the first time at a congressional hearing on November 18, 2013. The price of Bitcoin had been relatively stable before, but it was discussed at the hearing. The price of Bitcoin had been relatively stable before, but it fell from $85 within six weeks after the hearing. Found $650 on it. Then there was another hearing on the growing popularity of virtual currencies, which resulted in Bitcoin rising to $1,150 on November 30 of that year.

## Bitcoin hearing time summary:

1. On November 18, 2013, the Senate hearing on Bitcoin was held in the U.S. Congress

2. On March 14, 2018, the U.S. Congress held a hearing on the theme of "Examining the Digital and ICO Market"

3. At 10 a.m. on July 16, 2019, the Senate hearing was held in the U.S. Congress

**Topics from past Bitcoin hearings:**

1. November 18, 2013, Bitcoin hearing topic: Risks and threats of virtual currencies

2. March 14, 2018, Bitcoin Hearing Topic Cryptocurrency

3.On July 16, 2019, the Bitcoin hearing topic examined Facebook’s issuance of digital currency and its data privacy.

**Impact on Bitcoin Price Before and After Bitcoin Hearings:**

1. Before November 18, 2013, the average daily price of Bitcoin was US$100. After November 18, the average daily price of Bitcoin was US$715;

2. Before March 14, 2018, the average daily price of Bitcoin was US$11,637. After March 14, the average daily price of Bitcoin was US$6,826;

3. Before July 16, 2019, the average daily price of Bitcoin was US$6,165. After July 16, the average daily price of Bitcoin was US$9,171;