Lens1000
VIP Contributor
The recent influx of some countries into the virtual currency ecosystem is gaining numbers by the day. First was Elsalvado, Tanzania is planning to adopted it too, Tunisa, South Africa, Nigeria are planning to follow suit. We need to wonder on some certain things due to this influx. My worries is that , the government will definitely influence the cryptocurrency, which will give rise to another pandemonium as it was witnessed when Elon Musk tweets.
The possible ways the government can influence the virtual currency are
The good thing is that, bitcoin can't be stopped by any regulations or banning, as it is seen over the past. Bitcoin will always thrive irrespective of the influence.
In the case of regulation, even though it might be bearish for bitcoin in the short-term, in longer term it may be a good thing as a regulated bitcoin will attract very large investors that are staying away at the moment from investing in bitcoin. As we all know, investors are running away from investing in bitcoin because of its decentralisation
Do you really think that the government can influence the cryptocurrency?
The possible ways the government can influence the virtual currency are
- bearish regulation
- monetary policy like the interest rate set by the Federal Reserve (in the US) affects price of bitcoin
- crypto / bitcoin can be banned like we have seen so many times over the years in China
The good thing is that, bitcoin can't be stopped by any regulations or banning, as it is seen over the past. Bitcoin will always thrive irrespective of the influence.
In the case of regulation, even though it might be bearish for bitcoin in the short-term, in longer term it may be a good thing as a regulated bitcoin will attract very large investors that are staying away at the moment from investing in bitcoin. As we all know, investors are running away from investing in bitcoin because of its decentralisation
Do you really think that the government can influence the cryptocurrency?
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