Banks do not want bitcoin to become popular

[Myleschetty]

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. 

[snip]

With the potential and benefit of Bitcoin which literally prevent the institution banks power and chance over people's fund we shouldn't expect them to want BTC to be popular because the popular BTC get the higher power drift from institutional bank to crypto currency which gave them liberation. Besides, do you think most of the negative, fud and misinformation articles posted about BTC is not their doing?

[virasog]

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.

The holders of bitcoin know that bitcoin is here to stay despite all the negative fuds and news being spread on every social media and crypto news related sites. These banks and governments will do everything to make us believe that there is no future of bitcoin.

I understand that old people who know about bitcoin will not listen to them but there are so many new investors who invested in bitcoin 2021 and later. They may sell their holding when they see such news from everywhere. This is propaganda being done on purpose and the government is also spending funds to publish such news on the media.

I would only say, let the weak hand shake out and bitcoin will come in stronger hands. Those who are selling do not know that the whales are getting this bitcoins cheap from retail and getting ready for the next bull run.

[DoublerHunter]

It's not just the banks that don't want bitcoin to become more popular. Some people don't want it and continue spreading negative news about bitcoin to stunt its growth. But they will not be able to permanently inhibit the growth of bitcoin, especially if more people realize that its presence can bring changes to their lives. If those people can earn more money from crypto, not just bitcoin but also altcoins, then they will surely start to believe that the presence of bitcoin can really change their lives. They will invite more people to join bitcoin.

This is the problem that Bitcoin is perceived as something unreliable and questionable! Because various projects based on the structure of network marketing make negative advertising to cryptocurrencies!!! And this is also a problem of bitcoin scalability!

^When a new crypto project becomes a scam it has an effect on the BTC, it is undeniable that people will blame BTC even though they have not invested directly to BTC, just because they use the word crypto and it is included BTC. That is why banks always wanted BTC not to be popular because of this and plus another reason that BTC could be a threat to their financial system which they were afraid of since BTC has become well known. However, this depends on the government, because banks are just only a tool in a government, but once government allows crypto and becomes legal tender, the bank there is nothing they can do.

[borovichok]

It's not just the banks that don't want bitcoin to become more popular. Some people don't want it and continue spreading negative news about bitcoin to stunt its growth. But they will not be able to permanently inhibit the growth of bitcoin, especially if more people realize that its presence can bring changes to their lives. If those people can earn more money from crypto, not just bitcoin but also altcoins, then they will surely start to believe that the presence of bitcoin can really change their lives. They will invite more people to join bitcoin.

Bitcoin have come to stay whether one like it or not. The moment banks, government or people start circulating wrong information about the project, that's the more reason it will become more popular in the universe as some develop countries have started to accept it as a legal tender and modes of payment. Partaking in crypto currency also make one yields passive profits in the space and definitely one of the good news if one could make good use of it. Bitcoin have change alot of lives either positively or negatively, but it matters what category you want to belong.

[ethereumhunter]

It's not just the banks that don't want bitcoin to become more popular. Some people don't want it and continue spreading negative news about bitcoin to stunt its growth. But they will not be able to permanently inhibit the growth of bitcoin, especially if more people realize that its presence can bring changes to their lives. If those people can earn more money from crypto, not just bitcoin but also altcoins, then they will surely start to believe that the presence of bitcoin can really change their lives. They will invite more people to join bitcoin.

This is the problem that Bitcoin is perceived as something unreliable and questionable! Because various projects based on the structure of network marketing make negative advertising to cryptocurrencies!!! And this is also a problem of bitcoin scalability!

But that won't make bitcoin lose popularity because until now, bitcoin still gets great support from investors, traders, or people who want change. And while that may seem unlikely, we should be optimistic that one day, it will. And when that happens, no one will be able to stop bitcoin because many people can see the benefits of bitcoin so they will also support bitcoin. This will increase the popularity of bitcoin even if the altcoin project or others don't help much. It won't be a problem for bitcoin.

[irhact]

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. 

What do you expect, Bitcoin is a threat to banks and they know this so just like how other establishment will react when they find something threatening their existence, so have the banks reacted. The banks knows in just few years people will no longer trust them to store their money in banks that only use that money to borrow others and make themselves rich while giving the real owner of that money nothing in return instead they use charges to make the user get less.

Our mobile app are becoming even more reliable than the banks and with the development of Bitcoin we can now have full control over our money. The banks knowing this is a threat to them will always bad mouth Bitcoin in trying to get people to consider than risky and harmful.

[Kiresiura]

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. 

What do you expect, Bitcoin is a threat to banks and they know this so just like how other establishment will react when they find something threatening their existence, so have the banks reacted. The banks knows in just few years people will no longer trust them to store their money in banks that only use that money to borrow others and make themselves rich while giving the real owner of that money nothing in return instead they use charges to make the user get less.

Our mobile app are becoming even more reliable than the banks and with the development of Bitcoin we can now have full control over our money. The banks knowing this is a threat to them will always bad mouth Bitcoin in trying to get people to consider than risky and harmful.

The banking system and Bitcoin are in a competitive relationship, and the existence of Bitcoin will pose a certain threat to the banking system.
Banks spread negative news about Bitcoin to make people fear Bitcoin because they will fear that Bitcoin will become more popular and it will not be good for their business and interests.

[Ghostnipple]

hmm... look its quiet simple, financial institutions are 100% in support of anything they can turn a profit on, including Bitcoin.

But large financial institutions have to buy in large volume, if they attempt to do this the market responds by driving the price up, so in order to do this efficiently they will do everything they can, to push the price as low as they can, which includes making statements in the media that bitcoin is f*cked.

When the retail traders who aren't diversified, panic and sell, the large financial institutions will buy as much as they can at a low price.
 
Once they have their volume they will do a U-turn and drive the price up.... rinse, repeat ad infinitum.

The best time for them to do this is to coordinate with a seasonal dip. Bitcoin has always dipped prior to chinese new year, and recovers afterwards. I don't see why this year will be any different.

[Leviathan.007]

I completely agree because we all know bitcoin is decentralized and all the banks and the governments are against something that is decentralized and they won't be able to control it in the other hand the bank systems are getting weaker time by time while bitcoin is getting popular time after time and this is what a government hates about bitcoin also we all know banks are mostly under the control of the governments and the governments are mostly disagree with bitcoin and CNBC is something they created to make a competitor for bitcoin which is going to fail later or sooner.

[justdimin]

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.

$5k is unfair still there's some even forum members who predicted btc at $3k but I don't think they are a btc hater. They are just telling what they think they can happen according to their analysis. We shouldn't be angry whenever we see such predictions but we should be open minded and face the reality that anything can happen in btc including harder dips and not just hard pumps.

This is for us to prepare ourselves. When those event came in, we do not worry or panic anymore but we will only be calm and buy more coins. Those who claim that btc is a bubble and can burst are right but unlike any other bubbles out there, btc is unique because its value always recovers.

[Pezroly]

Banks do not care about Bitcoin, because Bitcoin have limited popularity, and secondly transfer time and fees. Altcoins now are much faster and with lower fees.

[serjent05]

Banks do not care about Bitcoin, because Bitcoin have limited popularity, and secondly transfer time and fees. Altcoins now are much faster and with lower fees.

Now I wonder, if banks do not care about Bitcoin, why are banks releasing blogs and statement that tackles Bitcoin being a negative thing?  Every event and movement of Bitcoin, the financial institution releases negative statements that discourage people to participate in Bitcoin adoption.  Now if banks do not care about Bitcoin why do they need to do that length in order to demerit Bitcoin?

Btw, Altcoins may be faster and with lower fees but they compromised security.  I'd rather have an ok speed of transaction but have high security.

[Issa56]

$5k is unfair still there's some even forum members who predicted btc at $3k but I don't think they are a btc hater. They are just telling what they think they can happen according to their analysis. We shouldn't be angry whenever we see such predictions but we should be open minded and face the reality that anything can happen in btc including harder dips and not just hard pumps.

Am not always angry whenever I hear people saying bitcoin will dump to $5k or even below, I always get angry whenever I see people saying bitcoin will soon die, and funniest part is that some people will still believe those people that are saying bitcoin will die, I don't really like people saying bitcoin will die because it scares away newbies that are planning to invest in bitcoin, but if you have being in crypto space for long term am sure those people won't care about news like that.

If people keep on saying bitcoin will dump more, it's really possible for bitcoin to dump and its possible that bitcoin wont dump, I always tell people that want to invest in bitcoin to always ignore most of the news they see on social media, if you keep on waiting for bitcoin to dump more, then you might miss the opportunity to invest now that the price is already down because you might be waiting for more dump until you see bitcoin price at the top before you start regretting why you didn't buy when the price was low.

[lixer]

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. 

What else do you expect? Banks and Bitcoin are not friends so it's normal that they won't help it to become popular. By the time BTC came out, banks are in fact in a critical position and im afraid that they will lose their fame pretty soon. No need to help BTC but their own self are the ones that they must help to retain their position in the financial industry.

A bank that gives a statement about BTC doesn't make BTC become less popular but it will actually help BTC to become more popular because they are exposing it or advertising it indirectly. People who aren't yet into BTC, will be curious and might end up trying and liking it. Telling that BTC will drop won't also cause a FUD but it will only help people to get excited of buying it.

[TimeTeller]

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.  

What else do you expect? Banks and Bitcoin are not friends so it's normal that they won't help it to become popular. By the time BTC came out, banks are in fact in a critical position and im afraid that they will lose their fame pretty soon. No need to help BTC but their own self are the ones that they must help to retain their position in the financial industry.

A bank that gives a statement about BTC doesn't make BTC become less popular but it will actually help BTC to become more popular because they are exposing it or advertising it indirectly. People who aren't yet into BTC, will be curious and might end up trying and liking it. Telling that BTC will drop won't also cause a FUD but it will only help people to get excited of buying it.

We can't remove such negative approach to BTC especially coming from the banking system.
They can say all they want, but those who are already into crypto know what they need to do.
On the other hand, for those non-crypto users, they may really get curious to what their bank is spreading.
And it may indeed pave the way for these non-crypto people to dig about BTC and crypto market.
They may give their lowest price prediction but in reality, we may never get to that price level.
Also, they can't stop people from searching the truth, remember, anyone can basically do their search over the net these days.

[Freeveto]

Basically, some Banks or would I say most banks are not well pleased with the existence of BTC.
Bitcoin has opened a lot of investors eyes, as how inflation and Banks slowly robbs off people their money that is deposited in the bank with charges , restrictions on account and pay customers small interest on loaning their money.

While this has made investors start moving their attention into BTC, Thus resulting in banks seeing Bitcoin as business enemy.

[MoonOfLife]

Banks do not care about Bitcoin, because Bitcoin have limited popularity, and secondly transfer time and fees. Altcoins now are much faster and with lower fees.

Banks are very interested in bitcoin, I believe they are watching bitcoin daily and they hope bitcoin will drop more and maybe die so that they are no longer a threat to them. Bitcoin is threatening their position for users but they have no way to stop bitcoin, the only thing they can do is spread Fuds to keep people away from bitcoin.

[romero121]

Basically, some Banks or would I say most banks are not well pleased with the existence of BTC.
Bitcoin has opened a lot of investors eyes, as how inflation and Banks slowly robbs off people their money that is deposited in the bank with charges , restrictions on account and pay customers small interest on loaning their money.

While this has made investors start moving their attention into BTC, Thus resulting in banks seeing Bitcoin as business enemy.

Not just about the investment opportunities, but it have served as an alternate that fulfill all that can't be done by the traditional system. Fiat system is developed for a purpose same is with bitcoin. People find bitcoin to be better in all means. This had moved lot of people towards bitcoin for their transaction needs causing loss to the banking network. This is the reason why banks wants bitcoin usage stopped.

[JoyMarsha]

The shine of bitcoin cannot be stopped by banks or governments, which is a universal truth. No matter how they try. They can keep throwing scrap as far as they can, but nobody can predict what price bitcoin will reach next during the bull market. Such information is only intended to mislead those who are unfamiliar with bitcoin. Those of us who are aware of what bitcoin can become in the future will ignore this information and buy more of it. The time is not right to accept or believe any unfavorable messages coming from the bank.

[Hispo]

Banks do not care about Bitcoin, because Bitcoin have limited popularity, and secondly transfer time and fees. Altcoins now are much faster and with lower fees.

Now I wonder, if banks do not care about Bitcoin, why are banks releasing blogs and statement that tackles Bitcoin being a negative thing?  Every event and movement of Bitcoin, the financial institution releases negative statements that discourage people to participate in Bitcoin adoption.  Now if banks do not care about Bitcoin why do they need to do that length in order to demerit Bitcoin?

Btw, Altcoins may be faster and with lower fees but they compromised security.  I'd rather have an ok speed of transaction but have high security.

They care about Bitcoin, because it is the leading cryptocurrency in the market and even one which have influence over the price of other assets in the market.
Banks and lobbyist won't waste their time and money targeting a random altcoin instead Bitcoin. It is not about transaction fees, or efficiency or block times.

They may have bad intentions but they are not stupid when comes to their objectives.