Topic: Bank of England warns against Cryptos - page 3. (Read 610 times)
bank warnings arent new to cryptocurrency industry they are quite common and those who are in crypto are much aware of warning after seeing speculative graph of crypto is currency markets
What else can you expect from a bank? It's obvious that for them crypto is competition, and they want to diminish it's reputation, and keep people away from it. But we know that crypto is the future, and they will not be able to stop it from growing.
Their warning is the same thing that every crypto investors already knows. We all know that there is high volatility that is associated with cryptocurrencies, with high volatility comes a higher chance of making a lot of money which is good enough for me. I already knew coming into cryptos that it was a risk but it was a risk that I was willing to take.
The Bank of England sent a clear warning:
Sam Woods, the Bank of England deputy governor responsible for financial supervision said that “in their short history, crypto-assets have exhibited high price volatility and relative illiquidity.”
Writing in a letter to the chief executives of banks and insurers he said: "Crypto-assets also raise concerns related to misconduct and market integrity – many appear vulnerable to fraud and manipulation, as well as money-laundering and terrorist financing risks.”
https://www.express.co.uk/finance/city/981330/Bitcoin-price-barclays-ripple-cryptocurrency-ethereum-BTC-to-USD-XRP-news
I do not think that the next and often repeated negative opinions of bankers regarding the crypto currency will somehow affect the price of the crypto currency.
I have to say I have read title and I don't think I will click link and read article because I simply don't care what banks are thinking. Since I joined this industry only bad news and negativity is coming from banks and in my opinion thieves don't have right to their opinion about crypto.
Banks were, are and will be against crypto. Nothing to read here.
Banks were, are and will be against crypto. Nothing to read here.
Oh maan. another sad facts again..
these sort of news are very sad and disheartening given that the market is not doing very well right now with low prices. this could reduce the number of investors from a market so huge like the said country mentioned. this cloud drastically reduce the price furthermore in the market.
Eventhough they warns crypto in there community but as long as individuals still believe in crypto world they can't stop because there's a lot of solution due to the high technology right now. If someone's country has the issues of crypto then market collapse at lower rate value so I hope for acceptance in this kind of technology for everybodys wealth.
these sort of news are very sad and disheartening given that the market is not doing very well right now with low prices. this could reduce the number of investors from a market so huge like the said country mentioned. this cloud drastically reduce the price furthermore in the market.
This is indeed a sad news for the people engaged in the crypto currency market. This could also lead to a further downward fall in the price on the coins. This news may hit a greater impact, given the market is in a dip right now and could worse the situation even more.
All this FUD is why the market is dropping hard, nevertheless I want us to be optimistic cause this is only a bear market.
Situations like this always arises, and this usually affects the price of cryptos negatively.. But the good news is cryptos have always find a bounce back stronger.
This is nothing new in the cryptocurrency arena, cryptocurrency has been condemned in the recent past by many governments sighting safety and unreliablllty issues overtime. The fact that most governments feel like the national economies are threatened doesn't make it any better, there are also claims it's being used for money laundering, making most governments critical about it
The Bank of England sent a clear warning:
Sam Woods, the Bank of England deputy governor responsible for financial supervision said that “in their short history, crypto-assets have exhibited high price volatility and relative illiquidity.”
Writing in a letter to the chief executives of banks and insurers he said: "Crypto-assets also raise concerns related to misconduct and market integrity – many appear vulnerable to fraud and manipulation, as well as money-laundering and terrorist financing risks.”
https://www.express.co.uk/finance/city/981330/Bitcoin-price-barclays-ripple-cryptocurrency-ethereum-BTC-to-USD-XRP-news
there is no question that this is a manipulative market and I agree people will loose money..more regulation also doesn't ensure everything is right in this world after all this is the world for rich people
that's right bank of England sends a warning , it was written like this " crypto-assests have exhibited high price volatility and relative illiquidity". maybe crypto currencies protocol doesn't go with their rules that's why this kinds of incident happens
Oh yes, again a warning from a bank. Banks are really scared of crypto, i would say.
Always funny to read. Thanks for sharing.
Always funny to read. Thanks for sharing.
Yes crypto market is so volatile and in recent time illiquidity is going on high. But I believe that it is just a matter of time to recover. Where market condition is not so good, we can not expect these terms would perform well.
The statement given by Deputy Governor of Bank of England might affect the cryptocurrency market. It might be one of the causes of dropping of price of cryptocurrency. Thanks for posting this.
Crypt is a potential competitor for banks and if such a statement was published by another authoritative state or private but not an interested person, then I might be listened to ot.
I am not worried about the warning issued by the Bank of England. I think that the cryptocurrency cannot be affected by the warning. On the contrary, I think this may indicate the return of the green market.
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