The recent regulatory oversight in the U.S and the other countries is impacting Bitcoin market in a rather significant way. And the one thing that is rather notable is the fact that this Friday the price of the currency has fell below the $8,000.However, several analysts have come out to reveal that it did mount a slight recovery.

A market observer following up on one of the most recent developments said, “The regulatory crunch appears closer than ever and sooner or later this market could be headed back down to earth. Selling pressure this Thursday and Friday was intense as there had been nothing but bad news for bitcoin bulls of late.”

He moved ahead to outline that at the moment the regulatory crunch was apparently closer than ever and just in a matter of time they could be headed downwards. He also disclosed that the selling pressure on Thursday and Friday was quite intense and that was of course in close consideration of the fact that there has been so much in terms of bad news for bitcoin bulls in the recent times.

An ICO from AriseBank claiming to have generated about 600 million is in line with the most recent moves by the U.S. Securities & Exchange Commission (SEC) to bring to a sudden stop a series of initial coin offerings. AriseBank happens to be a decentralized bank and reports indicate that the Commodity Futures Trading Commission (CFTC) has made its way into the regulatory fray.

One of the most disturbing concerns that bulls needs to deal with the CFTC investigation into Bitfinex and the Tether exchange. And it is also worth noting that the claims of full dollar convertibility are at the moment undergoing some sort of serious scrutiny.

Sources indicate that Tether and Bitfinex, the digital currency with a substantial backing from the former’s executives, have been subpoenaed and that is of course by the U.S. regulator.

The senior market analysts at City of London brokerage ETX Capital, Neil Wilson has said that the idea that Tether is coming up with coins to purchase bitcoin is ungrounded.