Is government the most influential factor that affects Bitcoin price?

[Harlot]

I think the answer to that is a big yes. If you are looking for Bitcoin or cryptos in general to proceed to its mass adoption stage the only entity that can make that happen is the government without it things can go to dust for its development, I mean most exchanges right now are registered companies under their country's law so if they declared that cryptos are illegal we may even never have a chance to liquidate our assets as they could immediately froze this exchanges as well as our wallets. Nothing can be safe when touched by our government.

[DisturbedRTX]

It is quite logical that if there is a cryptocurrency ban, people will have no reason to use it. Is that the Darknet community. Therefore, it’s not cool, there is an influence on cryptocurrency.

[cabron]

Trump doesn't have jurisdiction to other countries approving cryptocurrencies. The point here is that no matter how low the price of BTC is, its going to be use to send value anywhere in the world without intermediaries. This is also the reason why we kept using BTC even when it was banned over and over.

[virendarnagpal]

Government is the supreme power in any country.  It can influence any movement any business.  If government wants to restrict usage of any thing it just can ban it.  banning will definitely have an effect.
And if government wants to ban crypto people will not be able to buy sell trade it legally.  Though some illegal transactions can not be overruled.
So the percentage of usage will be very low in case it is banned and may be very high in case government supports it's usage

[Alexlax]

This is a stick of two ends. On the one hand, the price may fall because it will no longer be used in the USA. On the other hand, all the forbidden is the most interesting and after the ban interest in cryptocurrency may increase.

[Pab]

No i don't think so
For sure if China gov will announce that bitcoin trading is legal one time again then we will have pump
I see bitcoin price more like a cycles same like fiat economy has his cycles
Usually every four years there is recession and it is normal and healthy
Next year we have bitcoin halving and any gov will not be able to disturb price rise

[South Park]

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?

Such a ban will definitely affect the price of bitcoin and will affect its adoption rate since we are talking about one of the most powerful countries when it comes to their economy, but that will not kill bitcoin, as a technology bitcoin will continue to thrive and to improve and even if all the countries around the world took that stance bitcoin will not disappear and it will be a matter of time before some countries reverse that decision or the people decide to disobey.

[sheenshane]

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?

Such a ban will definitely affect the price of bitcoin and will affect its adoption rate since we are talking about one of the most powerful countries when it comes to their economy, but that will not kill bitcoin, as a technology bitcoin will continue to thrive and to improve and even if all the countries around the world took that stance bitcoin will not disappear and it will be a matter of time before some countries reverse that decision or the people decide to disobey.

Yes, definitely the government will affect the Bitcoin's price since they are capable of using their power to influence it. I would also like to mention that the government has this system called oligarchy where they are connected to everyone and they have the power to control almost anything and cryptocurrency's price is included there.

Stock markets are controlled by SEC which is a government's agency as well (security and Exchange Commission). That is the reason why people would do their best just to be elected as an official because being involved in the government means the power to almost anything monetary or so on.

[jems]

Bitcoin will always exist even though the government forbids it but it is certain that the price will fall very far. In my opinion the government has an important role to play in the progress of the blockchain technology.

[coinplus]

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?

Probably, I guess it is the government branches not directly governments. For example, we have been talking about SEC for a long time (unfortunate about what happened) and SEC is not "the government" but more like a government branch. It means all over the world there are government branches that are connected to bitcoin and crypto currencies and make laws about it or regulates it and so forth.

Usually, stuff about bitcoin and crypto do not pass through the house or senate and what not, its not that big and neither its their problem, so they appoint a branch to take care of it instead. That way we know which branch is responsible in all countries (like sec in USA ) and know where to focus our voice.

They do have the make or break power because even tough bitcoin is decentralized banks you withdraw your money to is not and if you are dealing with just bitcoin that is great but if you want to cash out then it needs to be regulated and when a branch says "its free of tax, we love it, everyone should use it" or whatever it would make the price jump up and when they say "its illegal, nobody can own a single satoshi or will go to jail" or something it will make the price go down.

[electronicash]

the government want cuts thus all these stuff are happening from banning crypto and regulations asking taxes. they had us by the neck when we ask for adoption and so they denied ETF over and over. in all market its always the government that controls how it works. if crypto had to be adopted widely, the people behind it has to abide the government who sets the rules.

[deppil]

No i don't think so
For sure if China gov will announce that bitcoin trading is legal one time again then we will have pump
I see bitcoin price more like a cycles same like fiat economy has his cycles
Usually every four years there is recession and it is normal and healthy
Next year we have bitcoin halving and any gov will not be able to disturb price rise

Most countries might legalize it someday. but in my opinion the government might contribute to changes in the price of bitcoin on the market, see the ban imposed in early 2018, making the market shake? but that is not enough to destroy the bitcoin market.

[yusupjatigumilar]

In my opinion if the trump issued the regulation will directly affect bitcoin and the crypto currency market, because the government does contribute to the price movement of a commodity including bitcoin, when the government prohibits a commodity from being traded, the people will certainly obey the regulation because the public is afraid trading commodities that are prohibited by the government means they violate the law and can get sanctions.

[Janation]

Bitcoin will always exist even though the government forbids it but it is certain that the price will fall very far. In my opinion the government has an important role to play in the progress of the blockchain technology.

And how can you say that?

We are talking about Bitcoin here and the government being the most influential factor that affects its price which is obviously wrong. Government can affect the price of Bitcoin but in only one way, banning and regulating Bitcoin in their country but that does not mean it is the most influential one, in the end we investors are the most influential factor of the Bitcoin price. Without us, there will be no such thing as ATH or cryptocurrencies. Bitcoin will not be volatile nor exist without us. And don't say that the government has an important role on progressong on the blockchain technology since they are not the ones who are doing the developing, they are still users of that developed technology.

[wahyu wida]

In my opinion if the trump issued the regulation will directly affect bitcoin and the crypto currency market, because the government does contribute to the price movement of a commodity including bitcoin, when the government prohibits a commodity from being traded, the people will certainly obey the regulation because the public is afraid trading commodities that are prohibited by the government means they violate the law and can get sanctions.

indeed the government's policy to legalize bitcoin will encourage the development of BTC. but in my country even though it has not been legalized, but we can invest, and not violate the law, except for transactions

[andika2018]

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?

I think if Trump declare cryptocurrency is forbidden, it will affecting to cryptomarket. But i think its just temporary because many country still allowing and regulating cryptocurrency like south korea. I am believe government can not forbid cryptocurrency because bitcoin or others crypto is decentralized.

[Wellyan]

in my opinion not the most influential is the investor itself in my opinion the development of the crypto currency is influential if the government without investors certainly has no meaning

[munareal]

Government is not the most important factor that affects the price of bitcoin but its usage as in the demand and supply. Some countries have banned the use of bitcoin but the citizen still mine or use it.

[magneto]

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's regulations and decisions on bitcoin still has a lot of weight on the bitcoin price, there is absolutely no doubt about that. Especially in the short term, prices could be extremely volatile as people tend to overreact to these types of news.

But I definitely doubt what people say about "if the government wanted to shut down bitcoin, they could do so instantly". With a distributed ledger like bitcoin, it is quite proof to events like this from happening, and it would simply be unfeasible both technically and financially for a country to actually do this on a large scale.

So yes, short term speaking I think that government policies remains one of the most influential factors of bitcoin price (other regular news is probably more influential, though, like exchanges). But in the long run even if government's aren't 100% supportive of bitcoin, I don't think bitcoin will be affected much.

[horrifiedx1]

Government is not the most important factor that affects the price of bitcoin but its usage as in the demand and supply. Some countries have banned the use of bitcoin but the citizen still mine or use it.

because the government does not prohibit this. like in my country where it is not prohibited to have bitcoin, so the risk is borne personally. and what is banned is bitcoin to transact. I think the role of the government has its own place for the development of bitcoin, with the legalization of course more investors will come