The recent weeks of Bitcoin volatility, with Bitcoin price hitting an all-time high of $5,000, only to plummet back below $3,000, and then stabilize near $4,000, are a signal of what Bitcoin really needs - regulation. This, at least, is the opinion of the former US Trading Commissioner Bart Chilton in an article published on CNBC.

Chilton has been chair of the US Commodity Futures Trading Commission (CFTC), the financial regulatory agency tasked with overseeing the U.S. derivatives markets.

The former financial regulator stresses that Bitcoin has a ‘big blind spot’ in its lack of regulation, and the government crackdown by China should send a message to Bitcoin investors and developers that regulation is needed.