All the news we read nowadays is basically about Countries banning cryptocurrency or high level bank officials dumping on cryptocurrencies calling them lousy mode of pay, fad etc.
Why are they trying so hard to kill cryptocurrency? I recently got into trading myself and absolutely love it, but it seems a lot of the opportunities to trade successfully are killed by these people.
I agree that there should be regulations to curb crypto use with criminal activity but not if it puts a leash on prices.
It just seems there's a lot of insecurity after the great year cryptos had last year, it's almost as though authorities expected it to die by itself but it grew into a monster and now they're trying to do it themselves.
Banks feel threatened by cryptocurrencies because banks rely on customers using banks for holding customer funds. This allows banks to use a theses funds to lend out to other customers in the form of mortgage loans and car loans. They also make a lot of money on customers using their credit cards for purchases and in interest fees on credit card balances. If customers switch to cryptocurrencies for storing money and as a method of payment, banks lose money.