Many government policies affect the price of bitcoin

Many government policies affect the price of bitcoin


Since entering 2017, bitcoin has experienced a lot of volatility, at the same time, governments and central banks of this disruptive technology attitude has become more outspoken.

Almost every day there is a national issue and the blockchain, bitcoin or other encryption currency related statement. These statements are either related or revoked the ban, is the introduction of the new ban, then either investigation may carry out supervision or potential application.

Obviously, some governments are facing seem to stand in the bitcoin block and the chain of pressure, which is perhaps why regulators stand floating indefinite reasons.

Block chain is no need to panic

At present, the development speed is a major factor can not be ignored is that the block chain ecosystem. Almost every day there will be a new block chain innovation project or a new promising startups born.

Considering the independence of the block chain industry, industry participants seem to ignore the blockchain so far still lack of support from government agencies. At the same time, various activities block chain ecosystem in creating a self-sufficient, self sustaining community thought. This idea seems to have triggered a concern from the government level.

How will the government interfere or whether this interference is quite another. Taken by different observed global regulatory actions that some regulators issued conflicting statements, these statements are sometimes even published by the national government from time to time, such as the United Arab Emirates and Nigeria. The central bank has issued a statement to ban encryption currency and trade, but recently the bank did not personally clarify bitcoin ban. These have clearly shown that the work of the government is facing pressure or chasing technology development.

Bitcoin prices play a role

The president of CryptoConsultant JasonCassidy believes that the price of bitcoin is an important factor to attract the attention of the government.

Cassidy said:

“Price change attractive government bitcoin and other encryption currency attention. From this point of view, with the topic of government officials and central bankers continue to break into the line of sight, is expected there will be more discussion about these prices.

Cassidy believes the government and banks understand that we are now rapidly into the digital era, including our currency. Bitcoin and block chain has become a hot topic in the past few years, at the same time, the government also faces pressure to take a stand.

Cassidy pointed out that for almost every traditional institutions, this is a learning process, so in the next few years, the government position 180 degrees change is also normal, but the political motivation and general awareness will dominate the banking and government policy.

At the end of 2016, the deputy governor of Nigeria’s central bank AdebayoAdelabu have appealed to the national electronic fraud Forum (NeFF) for more effort, because in today’s environment, in the new wave of technology, participants either learn to swim or sink to the underwater. This statement clearly shows that the government is aware of the disruptive technology has come.

Although the global bitcoin blockchain technology and the reaction is different, but they have one thing is consistent: Advanced disruptive technology has. This technique is very fast and the development.

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