Post
Topic
Board Economics
Re: BTC up on gov shutdown news?
by
avikz
on 21/01/2018, 20:30:15 UTC
The news of a potential US government shutdown seem to be in sync with this 8% bitcoin rise. Coincidence or not? It was going up anyway and this seems to have triggered a pretty nice green candle. There's US government shutdown fears almost yearly but it has only happened 4 times in 25 years, I wonder how bitcoin will perform if it actually happens, I assume it will perform very well.

I don't think US government has come up with a proper news as on date. Same with China and South Korea. No government has not yet released any official statement confirming they will ban the crypto currency. However, if they do so, the market will receive a huge impact and the price will go down for sure for all the crypto currencies. I don't know on what basis you are thinking that the prices will go up, but I am sure the prices will come down as a lot of people will be selling their holdings to come out from the crypto market. It will increase the supply in the market, pushing the price down. No way the prices will be going up if US bans the cryptos.