When the government forbids cryptocurrency
In my country, the government is gradually apply internet and cryptocurrency control decrees. Previously, they banned direct Bitcoin transactions. Currently, they are banning crypto-related bank transfers. And of course, ICOS is also gradually banned .
Initially, they said they would not ban crypto and bitcoin. But now their actions show that they do not want crypto to exist.
Is their purpose not to secure crypto investors? They are trying to make it their own
They see huge profits being lost for themselves
And when the internet management program took place in my country, maybe I could not come up here to share my views like this. So sad
If that would happen, I think that can be a scary and difficult situation for the market. I say that because governments tend to follow suit to each other's movements, therefore, if one government would do it, another may soon follow, and in the end, a majority of them may do so. And if that implementation is for the negativity of cryptocurrency, then the market together with its assets would take a big hit since cryptocurrency lives by the support of the community. Obviously if that community will shrink even more in size due to the bans that will be imposed on cryptocurrency-related activities, then it would really be difficult for the market to survive.