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Crypto Market Is In Dilemma Regarding The Bitcoin Ban

Published

5 years ago

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Well after the recent tweets by the US President Donald Trump, it can now quite clearly be assumed that if somehow the President bans Bitcoin, its prices are going to fall apart drastically.

However, Alex Krueger who is an economist, as well as a trader, believes that the law would almost certainly avert him.

Trump, who declared his aversion for cryptographic money all in all last week, at first neglected to effect showcase slant. A consequent breakdown throughout the end of the week sent Bitcoin underneath $10,000.

Well as far as the concerns of Alex Krueger is concerned, he says:

Trump could also go after fiat on-ramps, by simply forbidding banks to service crypto exchanges, or by requiring banks to not service exchanges unless conditions XYZ are fulfilled.

Will The BITCOIN BAN Happen?

Well if the entire matter is actually taken into consideration, the Bitcoin Ban doesn’t seem to be that easy.

In order to execute the entire plan of banning Bitcoin, Trump would first need to convince the Congress. There is a strong need for him to explain to the lawmakers regarding the need to ban the Bitcoin.

Therefore as Krueger says it, “A ban is thus feasible but the probability of it becoming law is extremely low.”

Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.

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