Banks do not want bitcoin to become popular - page 7.

Little Mouse

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No bank would ever be happy to see bitcoin a success as that will minimize their fraud business scheme. I'm not surprised.

Quote from: noormcs5 on December 08, 2022, 11:46:16 AM

I came across this news on CNBC where standard chartered bank claims that bitcoin will reach 5000$.

Well, I'm not surprised that they said that and it's nothing of surprising prediction. Don't you think Bitcoin may reach at this level? I think it's very much possible too. We have seen huge ups and down in Bitcoin price from the very beginning of bitcoin.
PS- I'm ready to dump whatever I have @$5000/BTC Cheesy

Iroh

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Quote from: noormcs5 on December 08, 2022, 11:46:16 AM

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

There has always been predictions about bitcoin’s doom and downfall. Banks as well as financial markets predictions are never in favor of bitcoin. They see bitcoin as a threat as they couldn’t make any make any profits holding peoples coins and so, they’re automatically against it.
I’ve seen numerous negative predictions and forecasts about bitcoin and it’s price. Predictions that always turn out wrong. With the number of times bitcoin has supposedly died and miraculously risen over and over, it’s no surprise there are folks who would choose to “worship” bitcoin.

buwaytress

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Quote from: noormcs5 on December 08, 2022, 11:46:16 AM

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

Don't worry. This is the same list the bank likes to do, which contains surprises that may or may not happen (it includes things like Biden getting impeached). It's not exactly unfounded, since they see tech stocks being the trigger with multiple bankruptcies in the forecast (we already know the biggest ones are laying off big time).

So it's not a "wish" as you say, neither is it a "reality", but a worst case scenario. And really, if that's the worst, expect a huge bounce from 5k.

It's not as bad a FUD as media has made it out to be, it's really just predictions. The same team predicted a USD/CNY pact in 2019, and then Covid happened, and they predicted 2022 to be not just Covid recovery but accelerated growth in global economy too, and we know how that turned out heh.

NdaMk

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These are all conjectures, and we've grown accustomed to hearing them. If there are no such speculations, the market will appear uninteresting. People can say whatever they want now that there is freedom of expression all throughout the world. The hatred surrounding bitcoin has allowed it to survive despite all of the rumors. The more theories there are, the more successful it appears to be in the perspective of those who despise its existence. They can't centralize it, so they have to accept as it is.

Yatsan

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I doubt banks would be afraid of Bitcoin's popularity. Ofcourse fiat (as offered by banks) would be more used because it is simply more widely acceptable than cryptocurrencies as supported by governments. No matter how popular cryprocurrencies become, banks would still be there for people who are not interested to this technology. Why would be people not interested? Risk, complexity of chains, and such. Not all people are knowledgeable of how blockchain works and teaching them won't aid this gap especially if they are not really interested with it (such as with old people). But that's fine, as long as people of this industry are making use of this blockchain technology in accordance with their purpose, either investment or currency matters.

Nrcewker

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Quote from: noormcs5 on December 08, 2022, 11:46:16 AM

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

Banks are just another body of government. Due to the decentralised nature of Bitcoins, no government can control Bitcoin, that is they cannot impose tax on it. This is the reason for which the government is against Bitcoins, and not making it as a legal tender. They advising all the banks to thoroughly moderate all the transactions associated with cryptocurrencies. Basically people using cryptos over bank due to the financial freedom. A day will come when banks and government Will understand this.

cheezcarls

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Quote from: noormcs5 on December 08, 2022, 11:46:16 AM

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

And they can't do anything about it. Whether if they like it or not, Bitcoin will eventually go popular and it cannot be stopped. They have two choices to make. It's either they ride with or being left behind. If they can't beat Bitcoin, they would eventually gonna join and embrace it in the future.

Like in the Philippines, UnionBank instead taking the right approach to co-exist with Bitcoin instead of being against it like most of the banks. Although most banks are against Bitcoin and crypto adoption, but a few others are seeing it as an opportunity.

CryptoHeadlineNews

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Quote from: noormcs5 on December 08, 2022, 11:46:16 AM

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.

I'm not a crypto analyst, but the year 2022 wasn't fair for people into Bitcoin due to it's constant bear market and huge attack, which banks know that too well. So to me, I see this as a strategy by banks to scared people away from Bitcoin into preferring banks with a false prediction as we journey into the new year. But moreover, it's no longer a new thing, as it's been a normal routine about banks spreading fake news about Bitcoin just to install fear into the minds of people, of which their main targets are always newbies who have little or no knowledge about Bitcoin. But despite what, Bitcoin will always prevail irrespective of the market turbulent movement.

Woodie

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Manipulation of price, underpricing of cryptos you name it, this was always going to be the price to pay for leaving the doors open to the so called investors who knew very well that bitcoin and other cryptocurrencies are disrupting their source of wealth and they had to slow down bitcoin from inside out to safeguard their assets from this competition!

But change is inevitable, they can slow down the process but the revolution is here and anybody opposing it will lose out.

AbuBhakar

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🇵🇭

This known facts since the existence of Bitcoin because Satoshi wants a decentralized financial world which obviously an anti bank movement. It’s too late know for bank to lessen the popularity of Bitcoin it was being adopt already by many counties including US. Banks is starting to adapt on it and using the blockchain to match Bitcoin with there CBDC that use private blockchain.

Banks will never beat Bitcoin since people will choose decentralized over centralized in long term perspective.

serjent05

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It is obvious that banks see Bitcoin as a competitor, as a competitor they wanted it to crash so that more people will flock to avail of their service. Many banks' financial analyst has been speculating and predicting that Bitcoin's value or price will plummet and advise investors who are involved in Bitcoin trading should cash out and invest in traditional stocks instead where they can assess and profit from it.

I believe it has been an advocate of banks to throw mud on Bitcoin every time its price fluctuate, whether it surge or plummet, banks always release negative thought about Bitcoin.

avikz

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Tell us something we don't know!

It's an well established truth that banks don't like bitcoin or any other cryptocurrencies. Because cryptocurrency system has the power to directly challenge bank's dominance. So it's no wonder that banks do not like it in any shape or form.

Warren Buffet, Jemie Dimon and many other central banks have always raised their voice against cryptocurrency and it will continue to happen! We just need to ignore such things!

noormcs5

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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

Topic: Banks do not want bitcoin to become popular - page 7. (Read 987 times)