Banks do not want bitcoin to become popular

[ShowOff]

I will never feel angry when I hear statements that banks will not support bitcoin and even tend to give a negative view. I prefer to ignore what they are saying at the moment because in the end they can't hide the fact that bitcoin is still better than the current centralized financial system.

Bank are the opposite of bitcoin's decentralized system, So I'm not surprised by their bad statements on bitcoin. But maybe you should know that some bank officials will eventually admit that bitcoin is important in the financial system. So no new surprises, but it's always possible for bitcoin to lose a lot in value when hit by big negative issues.

[teosanru]

I came across this news on CNBC where standard chartered bank claims that bitcoin will reach 5000$. Being a bank, this can be their wish and not a reality. Banks do not want bitcoin to become popular and therefore they spread this negative information so people panic sell and do not adopt bitcoin. 

A pro Tip: when you see banks and news channels predicting such things and putting it open right in the media and news, it's time to fill your bags because the bull run is about to begin. Basically these people have also filled their bags and are now spreading this news to make sure they can fill even more at lower values. It's always like this you see positive news from banks when bitcoin is at the top and absolute negative news when it's at the bottom and both of these are equally alarming as they mean that tables are about to turn now.

[The Cryptovator]

How do you think centralized banks will anticipate decentralized Bitcoin reaching $50,000? So how are they going to make money off of us? There are a lot of stupid predictions all around us that never come true. Many people predicted that Bitcoin would reach level zero, did this happen? Many banks in my country are experiencing liquidity issues as a result of sudden withdrawals. As a direct consequence, they will attempt to manipulate the market. They want to sell our Bitcoin and deposit it in a bank. That's all.

[Fivestar4everMVP]

@OP., that is normal if you ask me, banks in the past have done and said worster things to bring bitcoin down and discourage as many as possible from using and adopting it, but then, bitcoin keeps growing, even amid all the fud from entities that see bitcoin as a threat.
If you are a true believe of bitcoin, news like this meaning nothing, banks are just playing their game, doing their bid, in the end, they are not forcing anybody to sell their bitcoin, it is up to you and I to hold our bitcoins firm and not let go.
Countries are gradually adopting bitcoin, recently, Brazil began accepting bitcoin as a legal means through which her citizens can pay for goods and services, bitcoin is already a legal tender in two countries, that's a big achievements already and trust, the banks are just fighting a battle they've already lost if they are indirectly fighting bitcoin with such a prediction.

[CryptSafe]

I came across this news on CNBC where standard chartered bank claims that bitcoin will reach 5000$. Being a bank, this can be their wish and not a reality. Banks do not want bitcoin to become popular and therefore they spread this negative information so people panic sell and do not adopt bitcoin. 

I am not surprised seeing this at this very moment. We all know the banks are wary of Bitcoin  surpassing their existing stand.  The long feud between banks and Bitcoin will never come to an end till one of them either way bend or bow to the other which I know for sure the bank will.
Do not forget the beginning of Bitcoin how it was ridiculously ridiculed but it was not the end of the road for Bitcoin as it surpassed their imaginations. Now they see Bitcoin as a treat to their goals in getting more profit from individuals with no knowledge what's they do with their funds. I laugh some times because the banks that agitates against Bitcoin have bankers fully as Bitcoiners you know that is laughable. It is only a blind and deaf human would take the talks and prediction of banks against Bitcoin existence serious.

[seoincorporation]

Bitcoin is a known enemy of banks, they weren't made to be friends. Just think about that satoshi's quote:

The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.

Banks want to control the money, it has been their job for the past years, and with bitcoin they don't have control, with BTC each user is his own bank, and that's the main problem with banks and bitcoin.

[_BlackStar]

Banks fear that if bitcoin becomes popular, people will withdraw money from the banks and put it in bitcoin and cryptocurrencies. Banks need money to run their business and if people stop depositing in the bank, the banking sector will come to an end. That is the reason why you will never hear any positive words about bitcoin from a banker.

I don't understand what exactly they are worried about, it makes no sense to me. Bitcoin will not destroy the structure of the government's financial system even though some people will actually use bitcoin for financial transaction matters.

Bitcoin could actually be considered an advance in the field of the financial system if governments and banks really wanted to take advantage of it. They don't need to be afraid of bitcoin, but they just need to understand that bitcoin can help them in many ways. As for profits, governments need not legalize bitcoin as a means of payment but may need to regulate it and tax profits made by traders or investors, but they will not be able to prevent bitcoin's popularity.

[Raflesia]

Basically it was like that from the start because indeed banks and bitcoin are like water and oil because they are the opposite of one another.
So with things like this now declining, it's not surprising that there are statements like this because apart from convincing people who don't know and don't like bitcoin, it's also meant to raise that they are the best, although for me personally I'll just smile dealing with statements like this because I consider this a funny joke.

[dbc23]

And if it eventually plunges to $5000 what difference does it make. We have had the worst plunge Since November 2021 when it gradually dropped from its ATHs if it keeps falling we keep buying, the fact remains the bear will not have the season for ever. Even if it keeps falling it will never go into extinction. The banks are only scared of how much control Bitcoin owners have over their coins. CNBC should know that  we are unapologetically Bitcoin buyers if it keeps falling we keep buying. We will definitely get to the moon again.

But I wonder why the banks are so worried about Bitcoin. The economy has made many withdraw their Bitcoin holding to support their physical business amid the high inflation rate. If there was anyone to raise alarm it should be the Bitcoin community but we have learnt patience and holding till the market becomes favourable again.

[coupable]

But this is nothing new. The position of banks is not at all different from the positions of governments regarding Bitcoin and other cryptocurrencies. Hence the revolution of the Bitcoin protocol, which alone is capable of entering into a confrontation with all these ruling institutions.
Bank owners, in addition to many decision-makers, did not hesitate to publicly declare their absolute rejection of this technology, and their argument is based every time on distorting Bitcoin and trying to limit its role in illegal activities such as theft and money laundering.

[Issa56]

Yes, you are right the banks do not want to become papular because if all the people start putting their investments in crypto wallets and crypto exchanges they will lose their customers who save money in their banks.

Since I started cryptocurrency, I don't really keep money in my bank account any longer, the only amount I always leave in my bank account is the amount I know I will be needing at that particular time, I believe my money is safer in my wallet than in my bank account, so why will I be keeping money in my bank.

Banks are against bitcoin because they noticed most people are diverting, most people in Cryptocurrency prefers keeping money in wallet than bank, if bitcoin continues to grow, then banks will keep on losing customers that's why they want bitcoin to die which is not possible, the only thing that can happen to bitcoin is that the price will dump, which I know with time it's going to bounce back but they can't kill bitcoin.

[Kelvinid]

Banks assumed that the existence of Bitcoin will hurt their business and lessen their income once people adopt it. I can't blame their claim as well as for sure it will affect their income but they should not have to spread negative about crypto and sell their black propaganda just for the seek of their benefits. And the more they are throwing negative about Bitcoin, the more people got interested in it. However, I don't think that it makes the banking system end which gives them some worries, fiat money will still exist for many years, and their business continue to operate.

[Smartvirus]

I sont know how people would have expected anything different in the phase of acceptance and the fact that, banks bank on fiat currencies which is what the CB represents of which bitcoin is very much far from. How do you expect an organisation to preach good of anything that it isn't about.
We've had banks close accounts for just transacting cryptocurrency. The increasing popularity and patronage have got the banks wondering what future awaits them but, I don't see much to be frightful about. With the rate of inflation, it just might help with the printing of notes and that's some thing to be cool about.

I just pity for those that hope on organisation and self proclaimed experts to do there analysis for them, its shit. One rule to the game has always been DYOR. Not doing tha could mean doing it wrong.

[n0ne]

From the very beginning cryptocurrency is opposed by the banking network mentioning that bitcoin have eaten up the profit. Large number of people moved to bitcoin for the large scale transactions, which requires huge fee as well as complicated process for the same. Even by that time banks have invested into bitcoin confidentially.

Banks at some point realised the difficulty of competing with cryptocurrency. As a result some banks launched usage of bitcoin and some have begun to coexist with bitcoin. Now users get the access of using fiat and bitcoin based on their need.

[coolcoinz]

These people make such ridiculous statements every month. I could find you a number of them made in the bull market of 2021.
I even made a thread about the media market predictions being false most of the time.

Just google media coverage by CNBC during the 2017 bull market and then 2018 bear market.
In bull market all their experts were saying that the drop to 10k after the peak of 20k is just the beginning of something bigger and 25k was to come next.
In the bear market of 2018 they were saying that if Bitcoin fell to 3k it's only a matter of time before it goes back to 1k.


Now they're so used to betting on the lows that if we ever fall to 15k they will say that 10k is next and if we fall to 10k it will be 5k and at 5k they'll say 3k is next. They are so predictable. When we finally break above 30k again they'll say that we're on the way to a new high and when we reach a new high the CNBC will say that now it has to go to 100k and at 100k they'll predict 120k or something and they'll keep going until the next bear market.

[Odusko]

Standard Chartered bank's predictions of Bitcoin plugging down to $5,000 is still a fair prediction unlike other banks or financial institutions who constantly predict Bitcoin crashing to $0 and some even call Bitcoin a bubble that is about to burst.
To many others bitcoin has died many times but yet we are still here and bitcoin is getting stronger and gaining more plurality day by day. So am not surprised about this statement this is what we are already used to.

[carlfebz2]

Standard Chartered bank's predictions of Bitcoin plugging down to $5,000 is still a fair prediction unlike other banks or financial institutions who constantly predict Bitcoin crashing to $0 and some even call Bitcoin a bubble that is about to burst.
To many others bitcoin has died many times but yet we are still here and bitcoin is getting stronger and gaining more plurality day by day. So am not surprised about this statement this is what we are already used to.

For banksters, government, centralized institution, traditional fiat asset companies then having these words and negativities arent really that shocking or new anymore.They wont really be pro-bitcoin in the first place

but rather they would really be going into the opposite side.Why? they do know that it could really be a huge opposition once the community would really be having that turning point.They do know that

it cant directly make huge effect but as gradual years do pass on and as recognition do really rise gradually then it would really be significant
which they do know that it could affect out overall on some angles.

[lalabotax]

What banks?
Once they hate, they will always hate. Or they are also acting like themselves as hate even though they are actually one of the holders.
Well, this will be going to be FUD again and I am sure that the market will crash again. We know that Bitcoin is very sensitive to negative FUD. And many haters will always spread the FUD to make Bitcoin drop again, to make many people lose and hate BItcoin.

But I am sure that many people here are aware of the FUD spread and we can image what we will do after this. For, they are too big and stong to accommodate.

[ilovealtcoins]

This is nothing too new to discuss and everyone knows this, the bank is the agency representing the government so it is not strange that they take advantage of this bear season to spread FUDS for bitcoin. But this won't make them better than bitcoin, no need to FUDS for bitcoin to drop more because a lot of people are expecting bitcoin to drop to buy more.

[kamvreto]

Statements like these are prevalent. Banks of course always disagree with bitcoin because they are rivaled by bitcoin. Negative information like this is kept up to bring bitcoin down and tell the public that bitcoin is not good.
I have encountered this kind of FUD many times but it won't have any effect as long as the big media don't keep discussing it. But if the big media continues to talk about it and add various kinds of FUD and other negative news, the bitcoin market will falter.
Those who do this kind of news manipulation want bitcoin holders to panic sell and buy it cheap, of course, some new investors will do that.

Note to OP: A source link will probably be needed for a thread like this so that we can read the full article too.