Could G20 Meeting in March initiate another Crypto Crash?

France and Germany will make joint proposals to regulate the bitcoin cryptocurrency at the next summit of the G20 group of major economies in Argentina in March, French Finance Minister Bruno Le Maire said on Thursday.
As we have seen through the South Korean rumor of a crypto ban in early January, further regulation on Crypto could initiate another devastating effect on its Market. A reason to at least think about the G20 results is the economic power these G20 members have, as they are responsible for 80% of world trade.
As Le Maire the french minister of economy said:
“We will have a joint Franco-German analysis of the risks linked to bitcoin, regulation proposals and these will be submitted as a joint proposal to our G20 counterparts at the G20 summit in Argentina in March,”.

The recent Crypto ride and the following downturn also show the typical movement of a bubble as described in the following picture. The question remains, if we now already are at the bottom, or if it could even get lower, as expectations remain uncertain in march.