Is government the most influential factor that affects Bitcoin price?

[radjie]

Sorry for the naïve question, but I'm just really curious. What would happen to Bitcoin price if, for example, Trump declared all cryptocurrencies forbidden?

Can Bitcoin survive because of decentralization or some other underlying tech concepts, or will it simply drop down into oblivion if the government decides to fight it for real?

the government does not have a role in the price movement of bitcoin because cryptocurrency is decentralized or no one regulates it. if the government is one of the main factors that can influence the price movement of bitcoin, this modern technology must be focused on one government and of course there must be regulation. even before that, he had to be able to turn a decentralized system into a centralized system

[Xising]

Sorry for the naïve question, but I'm just really curious. What would happen to Bitcoin price if, for example, Trump declared all cryptocurrencies forbidden?

Can Bitcoin survive because of decentralization or some other underlying tech concepts, or will it simply drop down into oblivion if the government decides to fight it for real?

bitcoin as technology can survive of course, but the price of bitcoin is a different story, it will definitely decrease dramatically in value if the government declared all cryptocurrencies forbidden. So yes, the most influential factor that affects Bitcoin price is government and it could make bitcoin go back to $10 if that scenario takes place.

I wouldn't say so. I think the main influencer with bitcoin prices is the community that supports it since they are the ones that hold on to the coins, and therefore, they are the ones that make the transactions happen, and furthermore, has the control over what will happen to its value, mainly. I think, in terms of the government, I would say that it's more of an indirect effect, especially when looking at the alley where governments have the power to ban or control or regulate cryptocurrencies and its use. In that sense, it can influence their constituents on how they can use cryptocurrencies in their localities. But since it is a worldwide asset that we are talking about, one government can't really have that massive of an effect to it.

[alroys]

The government is a state institution that greatly influences the people, if a government prohibits the use of Bitcoin and Cryptocurrency in a country, then someone's interest will decrease. And if many of them keep coins, they will sell their coins, and this will result in increased coin supply and reduced demand. And certainly this will greatly affect the price of Bitcoin.

[ginobitcoiner]

the government is indeed one of the determinants of a country's policy and economic changes.
Bitcoin changes are also affected by some countries that accept and ban bitcoin in their countries, but in reality the government is only a factor in that change. but does not directly affect the price of bitcoin.

[breathlessz]

the government is indeed one of the determinants of a country's policy and economic changes.
Bitcoin changes are also affected by some countries that accept and ban bitcoin in their countries, but in reality the government is only a factor in that change. but does not directly affect the price of bitcoin.

government policies that favor bitcoin, of course, will give investors the confidence to save their funds in crypto, with so many requests, of course, will increase the price of bitcoin, I think that is the way

[gabmen]

the government is indeed one of the determinants of a country's policy and economic changes.
Bitcoin changes are also affected by some countries that accept and ban bitcoin in their countries, but in reality the government is only a factor in that change. but does not directly affect the price of bitcoin.

government policies that favor bitcoin, of course, will give investors the confidence to save their funds in crypto, with so many requests, of course, will increase the price of bitcoin, I think that is the way

Yeah giving and taking away confidence from investors have a direct effect on the market. Especially if a government implements a ban on crypto, it won't only have negative backlash on that certain country but the whole crypto community. That's how important government support is.

[goaldigger]

Sorry for the naïve question, but I'm just really curious. What would happen to Bitcoin price if, for example, Trump declared all cryptocurrencies forbidden?

Can Bitcoin survive because of decentralization or some other underlying tech concepts, or will it simply drop down into oblivion if the government decides to fight it for real?

Government greatly affects the regulation and legalization of bitcoin but i dont think its the most influential among the factors given the fact that cryptocurrency is decentralized in nature an most of its content is anonymous. Other things like supply and demand, bears and bulls etc affects it the most.

[Defender3301]

Sorry for the naïve question, but I'm just really curious. What would happen to Bitcoin price if, for example, Trump declared all cryptocurrencies forbidden?

Can Bitcoin survive because of decentralization or some other underlying tech concepts, or will it simply drop down into oblivion if the government decides to fight it for real?

If it is logical to think, banning cryptocurrency officially, naturally, the demand for them will fall on a considerable scale. In China, it already seemed like that. I think 90% of users in the country will withdraw their assets.

[valheru]

I do not think that the most effective thing is the government. I think the most effective thing in changing the stock market is an unbalanced community of people. What I mean is people who believe in everything and do trade without knowledge. For example, these people are the cause of the bitcoin decline we are in.

[serjent05]

They cannot stop totally the use and circulation of bitcoin even if governments forbid it because of it decentralized feature but as we can hear if one country bans cryptocurrency or bitcoin specifically, we immediately see its effect on the price, so for sure if there will be more and more countries regulating or forbidding bitcoin, it will surely drop in value.

[mangsitin]

I do not think that the most effective thing is the government. I think the most effective thing in changing the stock market is an unbalanced community of people. What I mean is people who believe in everything and do trade without knowledge. For example, these people are the cause of the bitcoin decline we are in.

Yes right, because the government is playing an important role in any decision in a country, so that everything said by the government will greatly affect the price of Cryptocurrency. For example, when the Chinese government banned Bitcoin, what happened? There is news that Bitcoin fell at that time because the Chinese government banned Bitcoin.

[Douglasyukanov]

Prohibition of digital currencies in each country is different but most of which are banned are ICO activities which are illegal by several companies or individuals involving the people of that country. and for the whole cryptocurrency still gets trust in dealing with transactions digital finance and online trading.

[breathlessz]

the government is indeed one of the determinants of a country's policy and economic changes.
Bitcoin changes are also affected by some countries that accept and ban bitcoin in their countries, but in reality the government is only a factor in that change. but does not directly affect the price of bitcoin.

government policies that favor bitcoin, of course, will give investors the confidence to save their funds in crypto, with so many requests, of course, will increase the price of bitcoin, I think that is the way

Yeah giving and taking away confidence from investors have a direct effect on the market. Especially if a government implements a ban on crypto, it won't only have negative backlash on that certain country but the whole crypto community. That's how important government support is.

the government holds control of a country, so that the community must obey the policies it has made. for example, the government prohibits the use of crypto to transact, and we violate it, of course it will deal with applicable laws

[andieoke]

Donald Trump is a very influential person in his country, even in the world. If Trump claims to ban cryptocurrency, I'm sure the price of Bitcoin will drop. That is certain, even though eventually the price can rise again in the future. I hereby argue, a government that greatly influences the price of Cryptocurrency.

[bounceback]

Donald Trump is a very influential person in his country, even in the world. If Trump claims to ban cryptocurrency, I'm sure the price of Bitcoin will drop. That is certain, even though eventually the price can rise again in the future. I hereby argue, a government that greatly influences the price of Cryptocurrency.

this is still political and I think bitcoin will only be prioritized to be discussed when its use is equivalent to fiat. he also did not want the economic model to change without careful preparation, now the usd has been included in the crypto conversion benchmark and I am sure this is fully known by the people around their government, the effects of the government will be great but they also do not want to be careless.

[rose9696]

Sorry for the naïve question, but I'm just really curious. What would happen to Bitcoin price if, for example, Trump declared all cryptocurrencies forbidden?

Can Bitcoin survive because of decentralization or some other underlying tech concepts, or will it simply drop down into oblivion if the government decides to fight it for real?

Your question is really naive. If you pay close attention to the details of ICO projects, they often do not allow Americans to participate in their projects.
Potential projects to fraudulent projects, they don't want to involve Americans. They have anticipated difficulties with Mr. Trump so they did not want to cooperate with his country.
So the US government cannot have a big impact on our crypto market.

[karloscimot]

I think the existence of legalization from the government will certainly give confidence to investors, so they are more confident to enter the market. so that it is expected to increase the price

all play an important role in influencing the price of bitcoin, because bitcoin is global in nature, the decision of one country against bitcoin will not have a significant effect on the rise in value, so all business players in this world can influence the value of crypto currencies. if the demand is large, it can be ascertained that the price will rise and if demand decreases, the price will decrease

[BigBos]

Donald Trump is a very influential person in his country, even in the world. If Trump claims to ban cryptocurrency, I'm sure the price of Bitcoin will drop. That is certain, even though eventually the price can rise again in the future. I hereby argue, a government that greatly influences the price of Cryptocurrency.

yeah, you're right. I also feel that the government is indeed very influential. even when China started giving news that they were banning cryptocurrency, the crypto price declined. well, when all countries have received cryptocurrency, we can be sure that the market will recover.

[XFlowZion]

Sorry for the naïve question, but I'm just really curious. What would happen to Bitcoin price if, for example, Trump declared all cryptocurrencies forbidden?

Can Bitcoin survive because of decentralization or some other underlying tech concepts, or will it simply drop down into oblivion if the government decides to fight it for real?

He might be an idiot but I'm pretty sure that he also knows the potential of a technology. I bet he would never do that because their neighboring countries like Japan, Russia, China and etc are utilizing it in it's early stage even that some of them had ban ICOs.

[PlusOne88]

There is a serious impact to bitcoin if in such manner for example  big country like the US will no longer support bitcoin. But given that bitcoin does not only reside on a single country but the whole world it will certainly continue to move forward not unless everyone else will do the same. As to the price there will certainly be a change since they are one of the biggest users of bitcoin and losing them could mean a lot of change in the bitcoin value.