Quote from: btc_angela on June 29, 2021, 10:33:54 PM

Quote from: tradewithus on June 28, 2021, 03:53:21 PM

The major factors affecting bitcoin are :

Change in government - it's simply means when another government enter there's will be reduction or addition of some policies.

Political instability - when political system in the country is not stable, everything will get down.

I agree with your first point, maybe you can add those government that doesn't want to give freedom to their people, like China.

However, the second part, is the opposite in my opinion, if there is political instability then people should really go to bitcoin and crypto to hedge their wealth. So before everything goes down and worsen or your local money devalued, it's better to put it to bitcoin.

I hold the same view as you. The change of government may introduce some unfavorable or favorable policies for Bitcoin, because every leader has a different attitude towards cryptocurrency, which also indirectly affects the price of Bitcoin. In some politically turbulent areas, their home country’s fiat currency is out of order, inflation is serious, or the US dollar is directly used as the country’s fiat currency. This is why El Salvador uses Bitcoin as its own country’s legal currency. In the hands of Bank of America, it is the best choice under current national conditions.