Does Central Bank really have impact on bitcoin?

[Eggzootechkoyn]

I don't think somebody or group of people is responsible for bitcoin's status. It's the demand of people that defines bitcoin's market price because if the demand of people gets high, the price also gets high and vice versa.

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[minthit]

It might be possible that central bank doesn't have impact on bitcoin, but at least it has impact on people's opinions. So, in a way, it has impact on bitcoin price.

[bitcoinping]

Thanks everyone! looks like most of the concerns are indirect effects such as people's expectations and sentiments and direct effects are mostly regarding closing of exchanges and accounts! it is important to place different weights to their actions then!

[markdario112616]

It might not have an direct impact to Bitcoin but they can manipulate the users. How? We all know that the rates of Bitcoin depends on the supply and demand, Central Bank and other well-known banks could spread a FUD not to destroy's Bitcoin's reputation but to disrupt the users mind to have a panic feeling. In result there's a high chances for these users to sell their coins. Going back to the supply and demand law, High supply + Low demand = Price/s depreciate and when the price depriciated this would be time that this sharks will buy huge amount of coins and withdraw their claim and again state something good about Bitcoin. Which in result a High Demand + Low Supply = High price or rate. Basic attack but effective.

[onrise]

It might be possible that central bank doesn't have impact on bitcoin, but at least it has impact on people's opinions. So, in a way, it has impact on bitcoin price.

The perception of the people changes when some regulatory body gives some comments or their statement on virtual currency . If it’s a positive the price set to rise and vice versa . If ever the green signal given by this authorities will help the community to grow with More people joining it .

[BCTBF]

are the price movements related to those speeches of the central banks such as the BOE?

I think central bank really does not affect the bitcoin price, if the government or a country is against bitcoin, I think it might have an impact on bitcoin prices. But for now, I think there's just a dumping done by the whales out there, and now I see prices can be stable at 9k$.

[jaysabi]

Central banks are trying to have a bad impact on bitcoin. I have read some news that some countries are warning their citizens to not invest in bitcoin as it is a pyramidal scheme or a HYIP. However the Central Banks cannot really impact bitcoin  because bitcoin is a decentralized currency which is controlled by no one, it has no central authority.

They're probably warning people to be wary of people hyping pyramid schemes and HYIP using crypto, not warning that crypto itself is a pyramid scheme. Based on the amount of scamming going on and the amount of money dumbly chasing get rich quick schemes, the warnings are completely justified. There's still a dearth of regulation, and there are far too many people taking advantage of susceptible folks.

[maimainguyen05]

There are no bank can be able to affect to price of Bitcoin or other cryptocurrency ). If it were before, I think people would feel panic when any bank publish that they're going to ban Bitcoin and all other cryptocurrencies in their country but for now, it's useless when any bank publish that kind of news ). The only one can impact the price of Bitcoin and other cryptocurrencies is the whale

[Indrawan77]

Actually no central bank able to give impact to bitcoin, but the central bank able to drive people away from investing in crypto, so no matter what news the central bank announced, if the users and investors stick together then central bank can't do anything, but most of the time the newbie investors got trapped with the news and doing panic sell and causing the market instability

[Kim Ji Won]

are the price movements related to those speeches of the central banks such as the BOE?

Due to that news and FUDs that are coming from banks in different countries stating that they will ban or regulate the use of bitcoin, it creates panic on people so in result, most of them are selling their fair share of bitcoin while they can see some profits before its too late for them to sell out and wait months before the price recovery. So banks affect the price of bitcoin one or the other.

[pandanaran]

are the price movements related to those speeches of the central banks such as the BOE?

Logically it has no impact because bitcoin is decentral and he stands alone, but if we think broadly it greatly affects because the user's interest in the crypto is influenced by the news especially if the cetral bank gives a good or bad speech about the cryptocurrency it definitely affects the movement, this is a speculation of my own.

[gantez]

The Bank of Europe is a very influential bank and has a very big role to play. Many traditional fiat users listen to whatever is said from there before they make a move to invest their money. If the BOE makes any fud on cryptocurrency, it automatically draws some investors from that region back from investing. Yes, banks have impact in bitcoin and they are in a serious fight with it.

[Gastotade]

The Bank of Europe is a very influential bank and has a very big role to play. Many traditional fiat users listen to whatever is said from there before they make a move to invest their money. If the BOE makes any fud on cryptocurrency, it automatically draws some investors from that region back from investing. Yes, banks have impact in bitcoin and they are in a serious fight with it.

They have an impact when they people removes their money and puts it on crypto but for now, people manage to have in banks and crypto at the same time the much affected is the stocks exchange of the countries not that bank mostly.

[gamaman990]

The governments certainly can pose huge impacts to the crypto markets through outright banning, taxation, regulations and FUDs. Anyone can also see the potential disruptive effect of cryptos to FIAT economies, so don't expect the governments to cede their control without a fight.

[jakagintiri]

It has nothing to do with the bank because there is no bond with bitcoin, because the movement of price changes is real by itself whether there is no demand and whether there is a news sentiment that exists today, it could change the price of bitcoin, surely you also know that.

[hitrawal91]

are the price movements related to those speeches of the central banks such as the BOE?

Central banks or any other bank does not have any kind of control on it and i think they cannot affect the bitcoin prices directly. But yes they can be a headache to the Cryptocurrency users by modifying the Exchange rates, terms & conditions while exchanging the Bitcoin and other crypto coins with the Fiat currency, which can lead in creating some impact on the bitcoin prices for sure. And yes there is no speech that can affect the bitcoin prices like BOE, Federal Reserve, but we can create the panic selling or buying by spreading the Rumours and doubts in the mind of the traders.

[ArnoldChippy]

are the price movements related to those speeches of the central banks such as the BOE?

Logically it has no impact because bitcoin is decentral and he stands alone, but if we think broadly it greatly affects because the user's interest in the crypto is influenced by the news especially if the cetral bank gives a good or bad speech about the cryptocurrency it definitely affects the movement, this is a speculation of my own.

I also think that there may not be any impact of central bank on bitcoin. Bitcoin is  decentralize currency, therefore it is not under influence of any country, bank or under any country. Bitcoin is decentralized anonymous currency and hope that it will remain as free from the influence of any state or bank, we can hope that bitcoin remain in its congenial stage forever.

[aardvark15]

are the price movements related to those speeches of the central banks such as the BOE?

Central banks have a voice through the media and can sway public opinion with this platform. I think this is one factor that makes cryptocurrencies unattractive to some people when they hear negative comments from big bank executives about Bitcoin and other cryptocurrencies. It will take time to sway public opinion and to make them truly understand the importance of cryptocurrencies.

[Coffee135]

Bankers can't affect cryptocurrency. But that doesn't mean they're defenseless. Bankers sponsor the majority of politicians. Through them, they can lobby for any prohibitions at the government level. And it is dangerous. I think that the first blow will be dealt to the ban on the exchange of cryptocurrencies for Fiat. But this is only if the bankers declare war on cryptocurrency.

[hagiyatmaz]

Central banks are currently the dominant structure nations use to manage their economies. They have monopoly power and are not going to give up that power without a fight. While Bitcoin and other digital currencies have generated significant interest, their adoption rates are miniscule and government support for them is virtually nonexistent. Until and unless governments recognize Bitcoin as legitimate currency, it has little hope of killing off central banks any time soon. That noted, central banks across the globe are watching and studying Bitcoin. Based on the fact that metal coins are expensive to manufacture (often costing more than their face value), it is more likely than not that central banks will one day issue digital currencies of their own.