If you happen to ask a bitcoin enthusiast whether they believe bitcoin can be annihilated, I’m almost certain the knee-jerk reaction would be, “bitcoin is unstoppable!”
Naysayers, on the contrary, see bitcoin as a Ponzi scheme with no intrinsic value, while others cite the digital asset’s lack of support from governments or well-established financial institutions.
The question pressing many is if bitcoin can actually be killed by governments and if yes, then how.
The Way For Governments To Stop Bitcoin Is To Cripple The Price
Countries opposed to cryptocurrencies have imposed strict restrictions on crypto use, but this has only limited the citizens of such countries with no huge impact on bitcoin. While responding to a tweet by crypto trader Rhythmtrader, popular crypto analyst Alex Kruger suggested an easier, foolproof way for governments to stop bitcoin. He explained that keeping the price of bitcoin at low market prices (below $1000, to be precise) for a prolonged period of time would eventually send away investors.
As we all know, what makes bitcoin very appealing to investors is the coin’s asymmetric risk. To put it simply, the possibility of the price of bitcoin dropping to zero is less than the possibility of its price soaring 20x. Read More...