Quote from: irhact on Today at 04:22:48 AM

Quote from: noormcs5 on December 08, 2022, 04:46:16 PM

I came across this news on CNBC where standard chartered bank claims that bitcoin will reach 5000$. Being a bank, this can be their wish and not a reality. Banks do not want bitcoin to become popular and therefore they spread this negative information so people panic sell and do not adopt bitcoin. Sad

What do you expect, Bitcoin is a threat to banks and they know this so just like how other establishment will react when they find something threatening their existence, so have the banks reacted. The banks knows in just few years people will no longer trust them to store their money in banks that only use that money to borrow others and make themselves rich while giving the real owner of that money nothing in return instead they use charges to make the user get less.

Our mobile app are becoming even more reliable than the banks and with the development of Bitcoin we can now have full control over our money. The banks knowing this is a threat to them will always bad mouth Bitcoin in trying to get people to consider than risky and harmful.

The banking system and Bitcoin are in a competitive relationship, and the existence of Bitcoin will pose a certain threat to the banking system.
Banks spread negative news about Bitcoin to make people fear Bitcoin because they will fear that Bitcoin will become more popular and it will not be good for their business and interests.