Topic: Does Central Bank really have impact on bitcoin? - page 3. (Read 466 times)

No, Central Bank doesn't have any control on Bitcoin. But I think that they can have some influence on it. For example, if they try to make people fear cryptos.

Think of the Central Banks as regulators of the flow of money within the economy. They along with a set of research panelists decide whether new instruments of trading, new modes of online payment or any form of money that could be sold within the country to be regulated by some form of statutory body or a set of KYC/AML procedures to be implemented. This is what the central banks in certain countries are doing. They receive information from either the Ministry of Finance or decide to regulate cryptocurrencies. Regulation may be in the form of collecting identities of individuals selling or buying cryptocurrencies so that money laundering can be curbed and also decide the taxation structure with the taxation department (Depending from country to country).

Keeping these in mind, think that when a Central Bank passes a law to ban or regulate Bitcoins in a way that it restricts Cryptocurrencies to be used as a legal tender, then yes this could have a negative short term impact on the price of Bitcoin. We've noticed several instances of this with China and Indian central banks decisions affecting the price of Bitcoin negatively. Similarly if a central bank announces crypto's to be used freely as a legal tender and exchange (Like Japan and Germany) then there's positive news and market sentiments start to kick in and the price goes up. So, yes I believe that alteast in the short term, the Central Bank's decisions do matter and may directly or indirectly affect the price.

I guess the statement of the Central Bank has an impact on the aggregate economy of Bitcoin. Without the approval of the World Bank all the Central Banks in the world does not support nor decline the use of Bitcoin in the country, but this support has a great impact for all since this becomes one of their basis on joining crypto currency for it simply legalizes the use of it.

See first we need to understand that banks do not have any direct relation with the crypto-currency price index. But Central Bank being a strong financial institution of the country directly affect the country economy so speeches and statement Issued by central banks have indirect Relation with crypto.

Your title is different from your question, please don't post this kind of clickbait in this forum.

First, Bitcoin (in theory) is a decentralized, open, borderless, trustless, and censorship-resistant currency. Banks cannot stop bitcoin.

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Second, Bitcoin is like any other commodities, its price also affected by sentiments i.e. government comments/policies.

To date, many central banks are closely following Bitcoin's development. But banks doesn`t have impact on Bitcoin. Quite the contrary. Вitcoin can potentially interrupt the ability of central banks to control the economy, as well as give out money. In fact, if bitcoin becomes a global phenomenon, all people of the world will use it, then the need for banks will disappear by itself.

At present the central banks can only have affect on price of bitcoin by creating FUDs regarding bitcoin. But there is no direct relationship that btc and any of the central bank share together. Nor there will be such a relationship in future. Controlling bitcoin is certainly impossible. But yes its needless to say that bitcoin just like any other stock does get some effect on its price with news.

It's not about the direct effect of central banks but indirect effect of the speeches that they make. Even if these guys sneeze then whole crypto currency catches the cold and that is how it is working since last year December. These are the peak peeiods since when the news Fud started from the banking system. This is just because of negativity that they create though such news. The media also boosts these things in different way and thus push the panic stuff through crypto lovers and there we see the dropped prices. So yeah they do affect it.

So will it be in the case if users will be able to abandon the use of Fiat. But now it is impossible. The demand for money is largely determined by the ability to easily exchange for Fiat. Banks can easily stop exchange operations. I am sure that after that the price of bitcoin will decrease as much as possible.

If his speech obeyed by a fool may be Yes! the impact will be felt and inhibit price movements (degenerate) but no for them (professional crypto users) because they will consider it this is FUD created by the BOE.

Statements by central banks MAY have a very short term affect on BTC
but it would if any be only short term, we have seen this in the past where
statements by banks and financial people with influence has affected the
performance of BTC negatively, but it always just bounces back and recovers.

They do have an impact on bitcoin's price and on the path between bitcoin and fiat, but they don't have an impact on the actual network and they can't prevent you from releasing transactions in any way.
The whole idea about bitcoin is that it is decentralized, there is not a central bank or any big organization, doesn't matter how strong they are, that can actually kill or destroy the blockchain, or set new rules.
In order to set new rules they would need the major hash rate of the bitcoin to accept the change.

No central bank and bitcoin don't have any direct relation with bitcoin. But there may be indirect causes that may or may not impact the bitcoin. Bitcoin's price is impacted by the demand and supply forces. That's the basics, if you go too deep, you'll end up confusing yourself.

Central banks are trying to have a bad impact on bitcoin. I have read some news that some countries are warning their citizens to not invest in bitcoin as it is a pyramidal scheme or a HYIP. However the Central Banks cannot really impact bitcoin  because bitcoin is a decentralized currency which is controlled by no one, it has no central authority.

The fluctuations in Crypto are unlikely to be controlled, but there are still a lot of people who are fortunate enough to succeed in the Bitcoin market. The top and the top are Bitcoin, the king of virtual coins. Bitcoin is widely believed to be influenced by a lot of places, but Bitcoin's actual development or agility is not related to anything.

I agree that this is the main problem within some countries. When the bank closes the circulation and exchange of the Bitcoin to the FIAT some of the investors are being left desperate. They are then thinking about another solution of withdraws. In most cases, this kind of investors is depending on the Bitcoin because this is their income for their living habits. They are losing a trust in Bitcoin slowly after that situations and also thinking about other solution of earning money. Bitcoin doesn't fall in the eyes of the investors but the banks do and the anger that grows in every investor that is influenced with the bank movements is pointed towards the central banks and not the Bitcoin.

Cryptocurrency going to ahead of it's own way as decentralized! bitcoin also! any government can't control bitcoin ahead of by their own power, they are just ban bitcoin for their own countries. not can control.

The price of cryptocurrency can be manipulated by banks in two ways, the first is by launching all kind of roomers or taking an official stand related cu crypto, or as an active investor with big capital.

Banks can not influence the price of bitcoin in any way. But they can create big problems for all cryptocurrency users. In their power to prohibit the operation to exchange cryptocurrency for Fiat and back. Such actions can significantly reduce the popularity of the cryptocurrency. This will inevitably lead to a drop in the prices of this asset.

No one is controlling the price of crypto currencies but people's minds can be manipulated by spreading positive and negative news about crypto currencies.So the price movement will also be according to their rumors.But banks don't have that much impact on the bitcoin price in my opinion.But if media spreads that news too much then it will have a big impact.