WHEN WILL BITCOIN COLLAPSE?
There is a widespread opinion often met in the media that crises taking place across the world increase the demand for bitcoin and other cryptocurrencies. Recently there has been some suggestions that confrontation between the US and Korea fueled interest in cryptocurrencies. Is the cryptocurrency market so sensitive to all sorts of political games, and is it true that it’s just a pyramid and that bitcoin will crash soon, Bitnewstoday figures out.
THERE IS TOO MUCH PR-FAKE IN CRYPTO NEWS
The talks about influence of political confrontations on the demand for cryptocurrencies are considered by most experts as a PR-fake. In their opinion, journalists and representatives of crypto startups with such positions just give out desirable for valid.
Considering that the total market capitalization of...
Read moreLet me answer you based on my study.
Demand for cryptocurrencies may not cause worldwide crises because it is only a demand per se. There is nothing in it that will affect how the world revolves and conducts trade and commerce. Nevertheless, worldwide crises may come to play when all people do is transact using cryptocurrencies because by then, there will be no longer enough tax for the government to sustain its cause thus chaos arises. Imagine if almost all people earn through Bitcoins, these business transactions can hardly be taxed because its business is anchored on anonymity. In this situation, I do not think Bitcoin will ever collapse UNLESS governments worldwide unite to put an end to it. Although to be really realistic about it, the latter statement is better said than done.
