BTC up on gov shutdown news? | Bitcointalksearch.org

avikz

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Quote from: thejaytiesto on January 20, 2018, 07:01:20 AM

The news of a potential US government shutdown seem to be in sync with this 8% bitcoin rise. Coincidence or not? It was going up anyway and this seems to have triggered a pretty nice green candle. There's US government shutdown fears almost yearly but it has only happened 4 times in 25 years, I wonder how bitcoin will perform if it actually happens, I assume it will perform very well.

I don't think US government has come up with a proper news as on date. Same with China and South Korea. No government has not yet released any official statement confirming they will ban the crypto currency. However, if they do so, the market will receive a huge impact and the price will go down for sure for all the crypto currencies. I don't know on what basis you are thinking that the prices will go up, but I am sure the prices will come down as a lot of people will be selling their holdings to come out from the crypto market. It will increase the supply in the market, pushing the price down. No way the prices will be going up if US bans the cryptos.

fat buddah

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Far as i know, all the news about regulations and all that shit were false. They were a HUGE fud in order to make people sell (and in fact, that is what happened a few days ago) So no, for me, there isn't any regulation or just bad news.

Quote from: thejaytiesto on January 20, 2018, 07:01:20 AM

The news of a potential US government shutdown seem to be in sync with this 8% bitcoin rise. Coincidence or not? It was going up anyway and this seems to have triggered a pretty nice green candle.

arpon11

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Quote from: thejaytiesto on January 20, 2018, 07:01:20 AM

The news of a potential US government shutdown seem to be in sync with this 8% bitcoin rise. Coincidence or not? It was going up anyway and this seems to have triggered a pretty nice green candle. There's US government shutdown fears almost yearly but it has only happened 4 times in 25 years, I wonder how bitcoin will perform if it actually happens, I assume it will perform very well.

I will pray this should not happen now as bitcoin and cryptocurrency market is currently at a bearish trend. If USA government ban bitcoin we should expect a very serious dump to $3,000 because most of the USA traders are definitely going to dump cryptocurrency that they holding and that is going to be bad as the traders are what is sustaining the market now. I don't think this will also happens at this current time as the trump administration is in favor of blockchain technology.

jseverson

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Someone linked this on another thread:

https://motherboard.vice.com/en_us/article/3ddxg5/why-bitcoin-boomed-during-the-government-shutdown

Basically, Bitcoin's rise has coincided with a government shutdown before. There are no concrete explanations on the article either, but maybe less faith in the government = more faith in Bitcoin? It has only happened twice so it's really impossible to draw an accurate conclusion, but it does make sense if you think about it. Only time will tell, I guess.

Quote from: Hydrogen on January 20, 2018, 04:38:04 PM

There is one way the shutdown could have a positive effect on btc price: with lawmakers shut down, they can't pass anti-bitcoin laws. Cheesy

LOL well, if you put it that way...

Granxis

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The U.S. government does not want to control Bitcoin, just trying to maximize utility. For this reason, they follow various economic and legal strategies, and they certainly do not make sudden and harsh decisions. It seems a good example that the Chinese government can not control Bitcoin.

debuni

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Quote from: thejaytiesto on January 20, 2018, 07:01:20 AM

The news of a potential US government shutdown seem to be in sync with this 8% bitcoin rise. Coincidence or not? It was going up anyway and this seems to have triggered a pretty nice green candle. There's US government shutdown fears almost yearly but it has only happened 4 times in 25 years, I wonder how bitcoin will perform if it actually happens, I assume it will perform very well.

I think is was coincidence and the rise happens few hours before the end time of negotiations.
Everybody is against Trump policy there but he won some fresh air today with the Apple's statement for returning 350B in US and paying up to 38B in taxes.

Lanatsa

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Quote from: davis196 on January 20, 2018, 07:24:06 AM

Quote from: thejaytiesto on January 20, 2018, 07:01:20 AM

The news of a potential US government shutdown seem to be in sync with this 8% bitcoin rise. Coincidence or not? It was going up anyway and this seems to have triggered a pretty nice green candle. There's US government shutdown fears almost yearly but it has only happened 4 times in 25 years, I wonder how bitcoin will perform if it actually happens, I assume it will perform very well.

I still don`t know what is the opinion of the US government about bitcoin.Do they support it or no?
I can`t find any evidence that proves any relation between the US government shut down and this btc price increase.Perhaps the btc price is just recovering from the small crash that happened two days ago.
People in the USA have more money to invest in cryptos,after the taxes were decreased.

Even myself don't have much information about US government views related to bitcoin if they support or not but somehow I do see they are on neutral. Regarding on government shutdown there were no significant proofs that bitcoins price is affected on that but who knows? Price movement do really normally react on this way which recovery do happen anytime when theres a price dip into bitcoin.

FrueGreads

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I'm sure both gold and bitcoin will perform very will if it actually happens. I must say I'm a bit divided here because I don't really like Trump, but US government to crash would probably have a big impact in the world economy so I hope it doesn't happen. Of course that if this happens to avoid greater evils, like the rising problems with north korea, then I hope it happens.
I'm not sure if the BTC price increase was related to that or not, but I don't think so. It would need more than just rumors to have an impact in the price.

jaysabi

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Quote from: thejaytiesto on January 20, 2018, 07:01:20 AM

The news of a potential US government shutdown seem to be in sync with this 8% bitcoin rise. Coincidence or not? It was going up anyway and this seems to have triggered a pretty nice green candle. There's US government shutdown fears almost yearly but it has only happened 4 times in 25 years, I wonder how bitcoin will perform if it actually happens, I assume it will perform very well.

Definitely a coincidence. This is a case of backfitting news into an unrelated market event. It's not causation, it's not even correlated. Bitcoin has been retracing heavy losses it's taken over the last month, and this is a continuation of that same trend. It has nothing to do with the US government shutdown, and further, considering you can't buy or sell 99.99% of the things you you want/need in this economy with Bitcoin, if the dollar were to blow up on account of a government shutdown (not likely to begin with), then Bitcoin would tank because it represents tied up value that isn't useful.

Hydrogen

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There is one way the shutdown could have a positive effect on btc price: with lawmakers shut down, they can't pass anti-bitcoin laws. Cheesy

I think most expected a beginning of year price drop. Its normal for the valuation of bitcoin to decline post holiday season when christmas shopping is over. It translates to decreased network volume. Lower volume could imply lower demand. Lower demand could imply the price must decrease.

The government shutdown could also have nothing to do with the recent price hike. The price dropped as much as it could, traders noted high resistance to the price dropping further, called a bottom and bought in expecting a price increase. When the price can't go lower, it goes higher. When it can't go higher, it goes lower. Such may define the eddies and tides of fundamental market mechanics.

william8829

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Quote from: davis196 on January 20, 2018, 07:24:06 AM

I still don`t know what is the opinion of the US government about bitcoin.Do they support it or no?
I can`t find any evidence that proves any relation between the US government shut down and this btc price increase.Perhaps the btc price is just recovering from the small crash that happened two days ago.
People in the USA have more money to invest in cryptos,after the taxes were decreased.

There have been rumors from the beginning that the US Government founded Bitcoin. The US have a luke warm feeling towards Bitcoin. As long as they can track it(which they can) and collect taxes on it(which they now do) they are content.

The world economy is tied to the US economy more so than any other country. US economy goes up so does the world and the opposite is true as well. It is kind of like the Bitcoin of the world economy.

A government shut down does not mean politicians stop getting paid or the military disbands, nothing crazy like that. Although a government shutdown sounds bad it really does not have any negative economic repercussions(short term).

alyssa85

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The government shutdown doesn't really affect ordinary Americans much. The things that will be shut down are things like the national parks, NASA etc, which are irrelevant to teh day to day lives of Americans.

The surge in bitcoin in 2013 was because the EU confiscated the savings of the Cypriots - that is the kind of event that makes people want to hide their money in bitcoin. Govt shutdowns don't affect people's savings and so people don't care.

BTCMILLIONAIRE

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Coincidence. Government shutdown in the US is nothing new and a somewhat frequent event. It should have absolutely no bearing on cryptos.

batang_bitcoin

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Still unpredictable but just like the way you think I'm also assuming that it will go well. But to connect the US government shutdown to the small increase of bitcoin, it's just a coincidence in my opinion. Bitcoin went through a correction so this small rise was due to it and that's the opposite reaction after getting there. Time of recovery is expected for bitcoin so if there will be people or expect that there will be headlines and articles that will start to put this up, it will be their all opinions.

davis196

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Quote from: thejaytiesto on January 20, 2018, 07:01:20 AM

The news of a potential US government shutdown seem to be in sync with this 8% bitcoin rise. Coincidence or not? It was going up anyway and this seems to have triggered a pretty nice green candle. There's US government shutdown fears almost yearly but it has only happened 4 times in 25 years, I wonder how bitcoin will perform if it actually happens, I assume it will perform very well.

I still don`t know what is the opinion of the US government about bitcoin.Do they support it or no?
I can`t find any evidence that proves any relation between the US government shut down and this btc price increase.Perhaps the btc price is just recovering from the small crash that happened two days ago.
People in the USA have more money to invest in cryptos,after the taxes were decreased.

thejaytiesto

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The news of a potential US government shutdown seem to be in sync with this 8% bitcoin rise. Coincidence or not? It was going up anyway and this seems to have triggered a pretty nice green candle. There's US government shutdown fears almost yearly but it has only happened 4 times in 25 years, I wonder how bitcoin will perform if it actually happens, I assume it will perform very well.

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