2018 hasn't started well for Bitcoin and other cryptocurrencies. We have seen this continuous flood of bad news coming in which is causing prices to drop.
Governments have started waging war on Cryptocurrency like never before. After years of outright dismissel governments are starting to fear cryptocurrency and its ability to distribute vasts amounts of wealth to people who otherwise wouldn't have had it.
Some of the news we've had lately.
South Korea crackdown on trading.
European Finance chiefs want to regulate bitcoin. Asks group of 20 nations to have joint regulations.
UK prime minister calls for tighter regulations on bitcoin
India ban cryptocurrency
This also extends to corporations with Facebook banning all cryptocurrency ads and banks clamping down on payments received from cryptocurrency sales.
Most of these crackdowns are citing scams and criminal behaviour but we are far removed from the days when bitcoin was tied to shady ventures like silkroad. This is not to dismiss the recent scams and hacks but we see scams in every other financial sector as well.
The world is in a very weird place, people are more aware than ever that governments/corporations seek to have complete control over many aspects of our lives. For many people cryptocurrency presents the opportunity to escape the tight grip of governments. I feel that 2018 will get much worse but the crypto community is a strong one and i have no doubt it will survive this current onslaught.
And the rates are going down due to bad news. One can see that Steemit lost half of its value in recent days which is worrying.
Sure is worrying i have confidence that things will turn out ok long term
You got a 6.28% upvote from @nado.bot courtesy of @adzzzz!
Send at least 0.1 SBD to participate in bid and get upvote of 0%-100% with full voting power.
You got a 10.53% upvote from @redlambo courtesy of @adzzzz!