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Why do banks blast Bitcoin?

It gets so tiring hearing Banks blasting Bitcoin, but there are reasons they will want to bring the Bitcoin price down:-

  • Their traders are shorting crypto and they want to move the currency down
  • They are looking to buy crypto and want it cheaper
  • They simply don’t understand the technology
  • They fail to compare crypto with other things like the Dow Jones/Tech Stocks and other more volatile currencies which behave pretty similarly anyway.

There is endless speculation about crypto being a bubble, but all that is happening is that it’s become subject to regulation. Regulation causes stability which creates confidence. I would imagine once the regulation has settled in that there will be an increase in interest in the crypto.

The other thing to remember is the more you tell people not to do something, especially if you are a bank, the more they will do it anyway.

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