Governments And Central Banks Cannot Stop Bitcoin, Here's Why. By Gregory Mannarino
Despite the recent attempts by the Chinese government and now the Russian central bank to hurt Bitcoin, well frankly their efforts have done nothing as Bitcoin nears US$5000 in value.
Why have government/central bank efforts to hurt Bitcoin and Bitcoin investors failed?
Simple..In my opinion any effort by governments to hurt Bitcoin and it's investors will only cause Bitcoin to move higher in value, why? Because THE FREE MARKET always wins.
***Bitcoin and other cryptocurrency‘s are, in my opinion, the only asset class at the current time which is reflective of free market forces.
Five months ago I wrote an article here on Steemit in which I put a $5000 target price on Bitcoin, and again despite the recent attacks and pressure by foreign governments-we are knocking right on the $5000 door. I also strongly believe that within the next 12 months Bitcoin will hit $10,000 despite any acts by governments or central banks.
REMEMBER, the free market ALWAYS wins over time.
Gregory Mannarino
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I've seen governments trying (and failing) to kill other decentralized networks in the past. I talk about this in more detail in this post:
https://steemit.com/bitcoin/@cryptoeagle/why-china-or-governments-can-t-stop-crypto-how-chuck-norris-proves-this-fact-from-communist-history
Reestemed! regards!
@cryptoeagle I beleive the trust provided by algorythms cant be stopped by the tyranny of the current corupted system. @gold84
Yeah they are craping themselves. Cheers mike
I have to say you did make very good points and i have to agree with you 100 percent and we upvoted and re steemed
12 months from now, if BitCoin hits the $10,000 mark like you say... As per my PC Theory,
it will only have the Purchasing Power of One Hundred Dollars in Physical U.S. Coinage...
... ...$7.77 ... ..317 views ... ... ... Reset
@pocketechange
Whatever the governments or banks do to try and bring down Bitcoin will fail.
All that their efforts will achieve is the slight slowing of the upwards price movement of Bitcoin.
But they will never stop it.
Great post Gregory :)
Have a nice day.
I don't think that governments trying to ban Bitcoin causes it to gain value, but the fact that some important hard fork is comming, and people want to gain free crypto. But it's just my humble opinion, who knows :)
Thank you Greg. You do very good analysis.
But the news makes it price dip. See what had happened to all alt coins after malaysia and china decided to ban ICO
this is great post .i agree with you.
I agree with you, Greg.
I'wrote an article "Is Bitcoin Money?" and I would be glad if you see the arguments I've offered there.
Here's the link: https://steemit.com/bitcoin/@marceloarmani/is-bitcoin-money-let-s-keep-it-simple
Take care!