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One of the most fascinating aspects of Bitcoin (BTC) is the cryptocurrency’s volatile price history. The chart makes for interesting viewing and often leads us to question how and why certain things have happened. When we consider the roughly five or six peaks in its history, we can usually tie them to specific events or trends.

US Security and Exchange Commission (SEC) Chair, Gary Gensler, recently revealed that the commission is working on a dossier for cryptocurrencies. The main goal of the platform is to unite all US financial regulators in the regulation of cryptocurrencies. The first goal is to reach an agreement with the US Commodity Futures Trading Commission on cryptocurrencies.

Russian oil company Gazpromneft announced that it will use its massive oil resources to mine cryptocurrencies. This comes after US sanctions on Russian oil have led to a significant drop in profits for many oil companies. Gazpromneft, a subsidiary of Russian oil giant Gazprom, hopes to use cryptocurrency mining to boost its profits.

A cryptocurrency community has sued both the US Treasury Department and IRS over allegations of financial espionage against its members. The crypto community claims that Section 6050I's reporting requirements violate its rights. According to the group, Section 6050I violates both the First Amendment and the Fifth Amendment to US laws.

The bear market is not over yet, but some cryptocurrencies remain positive despite the current downtrend. Altcoins are attempting a recovery rally but are coming under selling pressure at resistance levels. Let us discuss some of the cryptocurrencies that have performed the best.

Leading U.S. lawmakers and members of a select community concerned with water, ocean and wildlife want the environmental impact of cryptocurrency mining assessed. A total of 23 members of Congress signed the letter to Environmental Protection Agency Administrator (EPA) Micheal Reagan.

Waves and the other altcoins have continued to fall as cryptocurrencies lose their current support levels.

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Whenever a country is sanctioned, its traditional banking institutions are the number one target. This is the same thing that happened recently with Russia when the EU, NATO, the US and many other democratic countries decided to impose tough economic sanctions for invading Ukraine. Now Washington is considering cryptocurrencies as a possible tool for sanctions against Russia.