Bitcoin Forum

This week The Bank Of America warned that Bitcoin is going to be a giant 'bubble' -  I dont think Banks are reliable 'barometers' when making Bitcoin predictions as I have seen so much negativity from them since 2017 - Now the Banks and Governments are talking about launching their own Crypto to complete with Bitcoin but surely this wont be decentralised so its not really going to be 'The internet of money' is it?

I don't think calling bitcoin "a giant bubble" is an attempt to make it look bad. It's a prediction that any financial expert can make about any form of asset that's rapidly and continuously increasing in value. It's a warning we can't afford to ignore because like any other asset, bitcoin can pop anytime at ATH. But it's also possible that it will continue to rise.

As for banks launching their own crypto, some central banks have indeed been developing their own coins for years, and they're going to introduce them eventually. But don't worry, it's not going to affect bitcoin much. We have a lot of altcoins today but none of them was able to land a punch on bitcoin, so it's likely that those bank coins will only add to bitcoin's list of defeated foes.  

This really isn't anything new, banks and certain big-named individuals in general have been saying that Bitcoin is a bubble and whatever negative adjectives that could think of.

Now, is this bad publicity? Sure; but the statement "any publicity is good publicity" is definitely at play here.

More like 'money on the internet', and that's pretty much it.

In my few years with Bitcoin, the government has always be going negatively with Bitcoin becasue it provided the resources the common man needed to be free from their oppression, then why won't they be kicking against the one that gives freedom. If you want to enjoy Bitcoin either as investment or otherwise please don't rely on information from the government or from an entity that stand against Bitcoin. The Banks launching their coins won't be better than their fiats(unending printings).

From the articles I read, bitcoin wasn't called a bubble, they were rather referring to the current price surge and how it is unsustainable and similar to the gold boom in the 70's (gold cannot be referred to as a bubble cause of that). Everyone is entitled to an opinion on price action, some believe it is undervalued, others think it's overvalued, but they are all predictions; What's certain is that Bitcoin is definitely not a bubble and it has fundamental value.

I don't think Bitcoin really has a competition, it's a specific network that hasn't been replicated and at this time there is no replacement for it, you have alternative coins/tokens, fiat, gold, as well as soon to be launched CBDCs, but none of these can effectively replace Bitcoin.

Ah look we have been hearing this rhetoric from institutions for years,
its nothing new and nothing to worry about.

Its the Banks who are worried, the institutions like fund and asset managers
are moving away from FIAT assets and the banks are slow to act.

Just yesterday Christine Lagarde made a big statement


To put her statement into context a little, she was convicted of negligence
back in 2016 for some shady deal valuing €404,000,000 when she was the
French finance minister !


Anyone in crypto knows to take these type of comments with a pinch of salt.

2018 - Bank of America: Bitcoin Bubble Is Already Popping (https://www.coindesk.com/bank-of-america-bitcoin-bubble-is-already-popping)
2021 - Bitcoin boom is a bubble, warns Bank of America Securities (https://www.thetimes.co.uk/article/bitcoin-boom-s-a-bubble-warns-investment-bank-nfrdt79wj)

As you can see, the same bank has been saying it's a bubble for years. They will keep on repeating that until they decide to convert their fiat holdings into BTC (although there's a possibility they are buying already). Don't fret about these FUD from banks and zero coiners. Carry on and keep buying bitcoin.

We have heard this statement for years. Lots of bank giants and capitalists have shared their opinion on bitcoin being a 'bubble' that will soon pop in the near future.
Just by basing such statement on bitcoin's price index, you would definitely see that there is consistent increase on its price.

People may claim that bitcoin is a 'bubble' but you definitely cannot hide the fact that lots of investors (including me) have profited from investing into it. They just don't see the long-term value of the blockchain as being applied to transactions which I believe is the future of payments.


I mean, the thing speaks for itself. The profit scale of bitcoin has been off the roof! I highly think that they fear about the global implementation of the blockchain technology in the future- which is why they are attempting to create a stigma against cryptocurrencies.

Look closely at all the criticism and where it is coming from to understand what their agenda is. People save money in Banks and those Banks use that money to loan it to other people to make a profit. So what happens now... these same people are not saving their money in the Banks ...they rather invest that money into Bitcoin and other Crypto currencies..because they think that it would give them more return on their investment than having that money saved in Banks.

So what does Banks do to stop people from investing in Bitcoin? .... they try to bad mouth their competition and spread fear to stop people from investing in Bitcoin.   ::)

Relevant price increases tend to call on the league of "bitcoin bubble" articles, which leads to people searching for the coupled terms, not by their own thoughtful will, but induced by the media.

Looking over Google trends, we seem to be pretty far from 2017’s ATH searched for "bitcoin bubble" (roughly 85 points down):
https://trends.google.es/trends/explore?date=today%205-y&q=%22bitcoin%20bubble%22

Look’s like there is wiggle room for the bubble theory to surface more than it has …

As one would expect, this year’s coupled term search overlaps ATH timing:
https://trends.google.es/trends/explore?q=%22bitcoin%20bubble%22

It is a strategic approach to mitigate the teeming populace in crypto industry to the banking sector, not a bad adjective to describe a surging Bitcoin. The worst the banks and the government can do as this point is nothing actually. Trying to wind off people's interest over what gives them ROI even more than what the banks offers annually isn't realistic enough. So, my opinion remains firm even as it is not confirmed whether or not they are planning on launching a digital coin that could rival Bitcoin. It would definitely be a welcome development but who would risk his/her Bitcoin for a potential centralised token? Perhaps old people who are retiring to their pensions could try that line... ;D

There's nothing new here in fact way back before, many banks and people saying that the bitcoin is a bubble in which it will disappear just like a bubble. We already know that the statements of the banks are very biased in which they are always saying that bitcoin is nothing and any negative about bitcoin. The thing is that this is a bad nor a good publicity about bitcoin? I think it is both because at the end of the day, the publicity of bitcoin will be the one who wins. People will search about it and learn about researching if this is really nothing. If the bank will launch there own Cryptocurrency to compete with bitcoin, then probably we can see another crypto that might ends good, but if this will not be decentralized then how it will compete with bitcoin.

No coin bankers can introduce today that will have competition with bitcoin or challenges bitcoin, because looking at whatever they mentioned as alternative coin, is very obvious that it will be centralized because government will have control over it while bitcoin will still remain decentralized currency, and looking at it, it's not a fresh or a new news because government right from time has negative agenda towards bitcoin from the looks of their things.

What would you expect?

Banks are institutions which is fully contrary on bitcoin existence thats why it is really just common for them to have those criticism towards bitcoin.

They would say its a bubble or any whatsoever which isnt surprising but to rely on what theyve said then you would typically panic and might really change of minds.
Bad publicity? well this one really give out those bad impressions to those who doesnt know on what bitcoin is all about.

Banks and the government will always release negative statements about Bitcoin and it has been happening for years because they always see it as a threat. However, Bitcoin has been proving that these negative impressions are wrong and it's even attracting more investors. After all, publicity is still publicity and no matter how they ruin the name of Bitcoin, it even becoming more popular because of its huge potential.

CBDC is the one that they're planning to launch. It's the bank and government's own initiative to make themselves join in the crypto market although they can easily implement the use case of that coin they are trying to make.
Whether the banks or governments say something negative about bitcoin. You don't have to be upset about it, that happens most of the time even years ago, they still keep saying the same thing.

they think they are trusted with their predictions because they are bank and they are related to money but

 we that are here on bitcoin knows how banks involved in an issue with bitcoin , we dont take this prediction seriously but im afraid that non solid bitcoiners will worry or panic because of this

i think that the internet of money or money of the internet can be anything that is online . it can decentralized or not . they are free to create their own coin but the question is if will it market like btc

How you can call such a thing "The internet of money" if it can only be used in a particular place/country? And no, even if they have to, they are even too far for competing with bitcoin.

The marketers of other industries are getting paid for the job they do. Bitcoin has a whole community that works as a marketer for it and they do not get paid for it. Is not that beautiful? Twitter and Reddit is the home for the Bitcoin community. Many centralized industries are jealous of Bitcoin's community. Hodlers are in the front of the warzone. The cryptos of centralized institutions will not go any close to Bitcoin.

Don't get too affected with the statements from banking institutions. I believe, some of them are already working in cryptocurrencies. They maybe giving some warning to people about crypto, but if you are a long time crypto user, you already know what to do in this market. You don't need someone tell you what to do. Anyway, sooner or later, these banks will also join the crypto revolution.

We are used to such news as banks are not missing out any opportunity to take a jab at bitcoin, they initially tried thought users will stop indulging in Bitcoin with their warnings which they started earlier but users didn't pay any heed to their warning hence they have started to instill fear in our mind so that we might ditch bitcoin out of fear but they will eventually fail in this as well.

This is the power of media, media can easily spread the news and issues about what happens and what actually not happen by summarizing in their own ways to attract people to read their news. Moreover, it is sometimes only clickbait news that will be actually different from the content.
Well, as it has happened very often, I think that this is better depending on us. It is better to select the media, read the media only for certain consideration, but not to believe all. SOmeone said, not all things  are told by media

I think it's like that too, bitcoin will be more expensive so investors will scramble to buy it as soon as possible so that they continue to get huge profits.  news about banks that will make their own crypto is possible, because they see that many investors buy bitcoin even though the price of bitcoin is very expensive, so banks also want to make their own crypto so that investors are also interested in buying cryptocurrency from banks.

It is not a surprising thing, mate. If you are already a long time in crypto, you must hear many negative issues spread out by banks and the government about Bitcoin for years. I don't know why the banks and the government really hate Bitcoin. I assume they are too afraid about the possible future of Bitcoin as a global currency.

NO. You cannot get the Bitcoin prediction from the institutions which hate Bitcoin. They won't tell you about the good things on the Bitcoin future, but all their statements are only about the negativity and fear.

Can't be as bad as Tesla as a bubble.

People are saying Amazon and a lot of other big tech is a bubble.

Also certain green energy alternatives are bubbling.

Biotech is definitely bubbling.

Bitcoin is somewhere in the middle of all that.

...and now even some bitcoin related companies are bubbling more than bitcoin itself.

Look at the publically listed miners Argo Blockchain who are up more than 1200% in 3 months.

Now *that's* a bubble.

In my opinion, technology has become increasingly sophisticated and almost part of the world's population can access the internet. So whatever
negative things Banks and the government say, it will have little effect on Bitcoin. Because in my opinion internet users are getting smarter at
distinguishing good and bad things, therefore the popularity of Bitcoin is increasing. Because many companies and rich people consider Bitcoin
a profitable investment, and not think of Bitcoin as a giant bubble.

As far as I know about bitcoin, the government always thinks negatively about bitcoin because it provides the resources needed for the community rather than the system provided by the government, therefore I think bitcoin is not bad for society.

even some critics of Bitcoin - such as David Rosenberg, economist and strategist at Rosenberg Research - call Bitcoin a bubble.

This is a normal thing in my opinion, since the launch of bitcoin there has been a lot of fud in circulation but until now bitcoin remains the choice for investors, especially during the Covid19 pandemic, and also in my opinion those who spread fud just want to take opportunities for cheap prices on bitcoin and that has often been occur

Everything is correct, when bitcoin is made centralized, namely under a powerful state, at that very moment it will burst, and the fun era of bitcoin will end.

They are saying that bitcoin is going to bubble isn’t really something bad, there isn’t anything wrong with that, it’s a normal thing for them to say that. I have seen some economists that warned people about how the price of Bitcoin was pumping this year, and they were telling people to be very careful while they are investing in Bitcoin because it can burst at any time and they will be losing a lot.

So, they are saying it as an advise and not as a way to say something bad about Bitcoin. Lastly I don’t think that the digital currencies coming from banks will be able to beat Bitcoin, I’ve seen how some of them came and no one was interested in them.

When it comes to US banks, then we should be interested in what the biggest ones think, not only in terms of size in the US, but also globally.


There will always be those who have people in their management structure who do not even understand BTC, but also those who understand very well what it is about and will do everything to keep the existing system as dominant. After all, banks are there to provide financial services - not to advise someone on what to do with their money, unless the client seeks financial advice.

As for the bank in question, over the years I have read some very bad experiences of their clients when it comes to anything related to cryptocurrencies - therefore such statements are nothing new.

Bank of America Is Closing My Three-Year-Old’s Account Over Crypto (https://www.coindesk.com/bank-america-closing-three-year-olds-account-crypto)

'launching their own Crypto to complete with Bitcoin'

Pretty ignorant of them. They will soon realize that nobody can compete with Bitcoin, least of all some Bank

For me it would be a bullish sign. If the banks are saying that it's going to be a bubble they obviously realize that we haven't seen the top yet.


And you are right to think so, just like governments and their ponzi scheme allegations. If banks were reliable as investment barometers there wouldn't be a Cyprus bank bailout, a Greek crisis, Deutche Bank, and many, many more.

Misconceptions are just bumping on each other. Governments are just using the wrong words to say that it's market price will not continuously increase and having high hopes into it would yield to regrets eventually. While people in this industry are too optimistic on the market price of Bitcoin not looking to its nature of being volatile. There are really risks from investing into it, or should I say, to any investment. There's no assurance of the profit because the market price could fall down without any signal. Just look in the market price at this moment. It is indeed high still but think of those who invested during its ATH this year. So to how I view this, those people who are negative to this industry are either aware or unaware of its true nature.

I think at some point they are just trying to give people some advice on how they should invest their money. Even though it is expected for the banks to bad mouth bitcoin since they are obvious rivals, we should atleast take consideration and make some research on how banks of America are having this kind of assumptions. Nevertheless, it is just a prediction still, it's just a theory and it hasn't been proven yet so the freedom if ours on how we would take their statement towards bitcoin. We are the one who's held responsible for our own monet after all.

Well, to some extent Bitcoin is a threat to the banking system! When people dont need an intermediary to transact Money, that certainly decreases the need of having a bank. That's where exactly banks are worried and they are trying to discourage people from using bitcoin and other cryptos! But bitcoin is not facing such bad publicity for the first time. JPM Chase CEO Jemie dimon and Berkshire Hathaway Chairman Warren Buffet have already tried such thing and even the crypto market responded briefly to it! But the market is now matured and immune from such bad publicity! So nothing to worry!

It is expected banks to have a contrarian view about Bitcoin. After all they are can find themselves in a very uncomfortable position if BTC becomes a global reserve currency. But I don't see any resemblance between Bitcoin and the tulip bubble for example. Bitcoin is appreciating because of its fundamental design and features. It is an instrument for storing value and making low-fee transactions with anybody in the world. I see value in this and it this way higher than $30-$50k if you ask me.

that hasn't stopped them yet though. and i don't think they are creating their own altcoin to compete with bitcoin, but they are doing it to make money. it is essentially what the altcoins, ICOs, DEFIs scams have been doing so far. they know the hype is real strong and they know there is a lot of money to be made, it is obvious that they want a piece of this delicious pie that everyone else is eating.

The bad publicity is what made it better.  ;D
Even before I was introduced to Bitcoin by a friend, I never trusted the banks.
Yes, up until now.
So, what they are doing is like an invitation for those who hate the banks.
They announce negativity about it and people will start researching for it.
The question of "why" pops out.  ;D

no good or bad advertisement. advertisement is advertisement.

Somehow these ads are a good thing for btc.

Long period,  this ads help BTC price :)

as in some countries that were initially against bitcoin, now begin to understand the meaning of bitcoin is not a threat. I think it's only an issue if bitcoin causes harm to the economy. that is not true and it must be corrected the negative issue

It is not already new for people to have many opinions about Bitcoin which can either be good or bad and also other institutions putting a hot eye always checking up into the current status happening into the price of Bitcoin. Everyone is entitled to state their opinion for it is up to the person listening if he will accept what he have heard or ignore such and rather decide on his own depending on what he knows and what he is literally saying.


This is exactly a good point. Good and bad ads will only contain people to get attracted what is really up with the issue due to curious minds they have and now it is up to them to judge whether the statement they have heard is true or not. Bad publicity ever since become still a good publicity for Bitcoin because people are getting curious to know more about it that in fact some recognizes the reality and have already engaged into it.

Banks and large scale institutions have begun to show much interest on bitcoin. As a result already we've got more number of banks to adopt the blockchain technology into the banking operations. Till date the network have grown slowly, and there is no form of advertising for bitcoin.

Everything has happened through word of mouth spreading. Bitcoin had got bad publicity from users who haven't got the right understanding about the market and the risks associated with it. Just because they've lost to some scammers they try to indicate bitcoin as the reason for the same.

They will still choose bitcoin due to its decentralized nature and people will not settle on owning a centralized currency.

That's the reason why people are investing on bitcoin because they want financial freedom and independence when making transactions with bitcoin.

It is hard to trust the government because there's always a negative agenda and corrupt activities that will exist if they make that possible shitcoin that they will produce. The humanity and crypto community deserves better we need to evolve, develop, and adjust in supporting a digital currency that will really help us.

Also the public should know that bitcoin really have a good advantage and potential on helping investors to grow and become successful.

Looks like they are out of creativity, because this kind of statement is being repeated for so long already... The truth is that bitcoin is doing very well, always recovering after deep corrections and coming back stronger and stronger... Maybe are we facing an unprecedented phenomenon never seen before in financial world, at least in practice?

Yes, a probable crypto currency developed by banks won't be popular like bitcoin. They just want to benefit from blockchain technology like all these crypto currencies we see since years ago are doing so far, that is all.

I have lost count of the number of times negative statements like this have been made by banks and governments concerning bitcoin. We all know this is actually because bitcoin is out of their control.
I, however, believe that this statement is not as as negative as it seems. You should know that bitcoin has gotten to the stage that any publicity, even bad ones, is good publicity. It doesn't matter what you say about Bitcoin, those who are truly interested will take time out to find out what and how it works.
Concerning banks creating their own coins to compete with bitcoin, well, we can only say, let them create it. Many of these altcoins were created with that same purpose only to realize it's not achievable. Bitcoin is and will remain the best coin.

If there is anything good that I can only read about crypto from the banks is that they are trying to use blockchain the rest it's all negative to cryptocurrency particularly to BTC.  All altcoins has the tendency to compete with BTC though. If banks will try to compete by creating their own coin, let them try. There is nothing wrong to it but we all know the result soon.

I don't trust these characters I mean banks, institutions and big whales because all these people will load money in btc as much as they can so that the price may go up when the price goes to the extreme level they will start to sell in bulk then price will automatically go down if it gradually start to fall small investors sell it in panic and again there guys will start buying again, they know how to pump and dump as well that's how big players turn the market.

As the price of bitcoin is increasing day by day, so it is getting a lot of attention and some negative publicity. Most governments don't like bitcoin as a currency. Because governments or financial authorities can't control bitcoin. In most of the countries bitcoin is banned by its government.
Thesedays, there has been a lot of criticism of bitcoin from all quarters.
Ripple's CEO attacked bitcoin. They claimed that bitcoin is one of the slowest transaction systems. The Bank Of America warned that bitcoin is going to be a giant bubble. China claimed that the bitcoin system has no advantages. They are just publishing false advantages and making people fool. It is also said that people will trust bitcoin and one day their trust will burst. Peter Thiel said that bitcoin may support financial services but it will not rise too much as expected by people. Bitcoin will lose its importance eventually. Other currencies will overshadow bitcoin.

Bitcoin is not a bad publicity. Bitcoin is future currency's. It any time to change the world. So people hold the bitcoins for future. More information in the bitcoins and it connects the all country people. So easy to communicate with other's and learn more information. Publicity is important of the bitcoins.