Bitcoin has built quite a reputation nowadays but can governments stop it simply enough if they wanted? Let’s find out more about the latest bitcoin news today.
Bitcoin rose to unfavorable conditions and the network itself resisted the censorship of a few governments in the world. Bitcoin could end up getting taken down without even touching the network according to the crypto analyst Alex Kruger. He suggested that the permanently low market price with no chance of a huge rally could put the investors off from the asset. Bitcoin is very attractive in 2019 and it could rally again to an all-time high, spiked by the expected halving event and the scarcity of the new BTC coming in each day.
The crypto market has a small volume compared to mainstream finance. And in theory, the government could use its immense financial power to sway the market in a direction so the observation of direct government influence has been made regarding the launch of the futures market. The analysts commented that the decision to launch the Bitcoin futures on CME and CBOE back in 2017 which was a concerted move that tamed BTC market prices.
At the time of writing, the bitcoin trading this year is happening on largely diverse exchanges and the swaying prices on all markets could be extremely problematic. If one entity acted on the exchanges that base the prices for bitcoin futures, there would be some markets that will continue with a highly independent valuation. It is still unknown can governments stop bitcoin from the US and China among the possible candidates especially after the recent stance of the Chinese president on blockchain technology.
So far, there are only smaller states that tried to ban the usage of bitcoin and the crypto space is not trying to dose the censorship and there is a rather long list of countries where some of the residents don’t have the opportunities to gain access to crypto-assets and the exchanges are able to enforce the ban. The market prices of the leading cryptocurrency are among the top factors that boost the interest in trading and purchasing the coin. BTC shows the high potential to turn bearish and slide to a lower range and there is also a marked withdrawal of the trading volumes as well as to the exchange inflow.
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