Depending on who you believe, cryptocurrencies will either crush the financial markets or disappear altogether. It is a very interesting debate that has gone on for quite some time now. According to Business Insider, people are selling Bitcoin because of moves made by governments all over the world. It is evident there is some fear mongering involved here, as that is anything but the case. Sell-offs like this one happen every single year. Bearish periods last anywhere from a few days to several months.
Governments cannot control or ban cryptocurrencies. That is an undisputed fact which no one can refute. Some financial experts claim the reality is different, but they are sadly mistaken. More specifically, governments can make life difficult for trading platforms. However, cryptocurrencies will survive regardless of centralized trading platforms. Consumers will always find a way to access their preferred financial tools. They will jump through hoops to do so if needed.
Governments Have no say Over Bitcoin
None of this prevents the government from trying to curb Bitcoin activity, though. Various officials across the world have voiced their concerns in this regard. The overall negative approach to this new form of money has been documented quite extensively. However, none of these decisions warrant anyone selling their cryptocurrency whatsoever. It doesn’t matter what governments think or do in this regard.
With the current market turmoil visible on the charts, it is evident there is some confusion. Every January, we see a big dip in cryptocurrency valuations. This trend has been present for quite some time now. Looking back at the charts, it’s a multi-year trend. Such bearish periods will eventually go away again. How long that takes, is a difficult variable to quantify. In most cases, a few weeks of sideways trading is the logical outcome. This time around may take less or more time, as no one can predict the future.
Moreover, the mainstream media shows its uneducated nature regarding these matters. Business Insider claims people are scared due to government intervention. That is anything but the case right now, though. It is true there are some negative regulations forthcoming. However, most of these have been misinterpreted by the media in recent weeks. It is this type of fear mongering people need to learn to ignore. Cryptocurrencies will not go away, and they cannot be banned or made illegal in other ways. The markets will recover eventually and things resume to normal. The people over at Business Insider may want to conduct more research in the future.
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